April 29, 2021 | Investopaper
NIBL Ace Capital Limited is currently issuing units (shares) of its new mutual fund scheme ‘NIBL Samriddhi Fund-II’. The public offering (IPO)is open from Baisakh 13, 2078 BS. Due to over-subscription of shares, the issue will close on Baisakh 16, 2078 BS. However, if it had remained under-subscribed until that period, the deadline for application would extend to Baisakh 27, 2078 BS.
NIBL Samriddhi Fund-II (NIBLSF2) is the fourth mutual fund scheme under ‘NIBL Mutual Fund. It is a Closed End Mutual Fund Scheme with corpus size of NPR. 1.2 Billion and maturity period of 10 years.
Nepal Investment Bank Ltd. (NIBL) with more than 35 years of successful operation and one of the leading banks of Nepal, has registered “NIBL Mutual Fund” as Fund Sponsor in Securities Board of Nepal (SEBON) with an objective to operate different Mutual Fund Schemes in Nepalese Capital Market.
The Fund Sponsor & Manager will be investing 20% of corpus size as seed capital in the scheme. The units of NIBLSF2 will be listed and traded in Nepal Stock Exchange Ltd. (NEPSE).
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NIBL Ace Capital is planning to sell 120,000,000 units in the public offering at a par value of Rs 10. Hence, the total public issue size is Rs 1.2 Billion.
The company had already received final approval from Securities Board Of Nepal (SEBON) for the issuance of shares. It had submitted an application to SEBON on Mangsir 24, 2077 BS.
Currently, two Closed End and one Open Ended Mutual Fund Schemes are operating under “NIBL Mutual Fund”. NIBL Samriddhi Fund-I, NIBL Mutual Fund’s first scheme, will mature on Poush 22, 2078 B.S. after 7 years of successful operation. It has distributed total cash dividends of 63.5% to its unit-holders till now. As a pioneer move NIBL Mutual Fund has launched NIBL Sahabhagita Fund, the first open ended mutual fund in Nepal after Mutual Fund Regulation 2067.
NIBL Ace Capital Ltd. the Fund Manager & Depository of “NIBL Mutual Fund”, is a wholly owned subsidiary company of NIBL and is licensed by SEBON as Merchant Banker with more than 9 years of successful operation. NIBL Ace Capital Ltd. is also one of the leading Merchant and Investment Banker.
Several mutual fund schemes are in the pipeline to collect the funds from the general public. After the accumulation of funds, the schemes invest the money in various investment alternatives such as shares, debentures, fixed deposits, etc.