NIC Asia Capital To Close Issue Of 1.25 Crores Units Of NIC Asia Dynamic Debt Fund From Mangsir 16

December 1, 2020 | Investopaper

NIC Asia Capital is closing the issue of NIC Asia Dynamic Debt Fund, an open-ended mutual fund scheme operated by NIC Asia Mutual Fund. The issue was open  from Mangsir 12,2077. Due to over-subscription, the mutual fund scheme will close today (Mangsir 16, 2077). However, the issue would extend to Mangsir 26 if it had remained under-subscribed.

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The fund manager is floating 5 crore units at a par value of Rs 10. Hence, the total issue amounts to Rs 50 crores. NIC Asia Bank is the promoter of the NIC Asia Mutual Fund. Hence, the bank will purchase 15 percent or 75 lakh units of the scheme. Out of the remaining 4.25 crore units, NIC Asia is planning to sell 1.25 crore units in the first phase.

In this scheme, interested applicants can apply for a minimum of 100 units and up to a maximum of 50 lakh units at the rate of Rs. 10 per unit.

ICRA Nepal has given a rating of ‘ICRANP AMC Quality 3’ to scheme manager NIC Asia Capital.  Likewise, it has provided the ‘ICRNP-BBB Plus’ rating to the promoter of the fund. This indicates moderate risk.

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One thought on “NIC Asia Capital To Close Issue Of 1.25 Crores Units Of NIC Asia Dynamic Debt Fund From Mangsir 16

  • November 27, 2020 at 7:46 am
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    How Do I buy it? It can’t be bought through brokers right?

    Reply

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