NMB Capital To Close IPO Of Its Open-Ended Scheme ‘NMB Saral Bachat Fund-E’ From Bhadra 21
September 6, 2021 | Investopaper
NMB Capital Limited is going to close the public offering of its open-ended scheme named “NMB Saral Bachat Fund-E”. The issue was open from Bhadra 17, 2078 BS. Due to over-subscription, the scheme offering (IPO) will close on Bhadra 21, 2078 BS.
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Securities Board of Nepal (SEBON) had provided the approval for the issuance of units to the general public. The fund manager received the approval on Shrawan 22, 2078 BS from the regulatory body. It had submitted the application to SEBON on Poush 23, 2077 BS.
The open-ended scheme will operate under the fund “NMB Mutual Fund”. The fund is planning to issue 10 crores units at a par value of Rs. 10. Hence, the total issue amounts to Rs. 100 crores. In the first phase, the fund manager plans to sell 40 percent of the total issue size or 4 crore units that amounts to Rs 40 crores.
As the promoter bank of the scheme, NMB Bank will purchase 14 percent of the total scheme or 1.4 crore units. Likewise, the fund manager NMB Capital will invest 1 percent or 10 lakh units as the seed capital. Hence, the general public can apply for the remaining 2.5 crore units worth Rs 25 crores.
Interested investors can apply for a minimum of 10 units and a maximum of 40 lakh units.
Previously, NIBL Ace Capital, Siddhartha Capital and NIC Asia Capital have already launched an open-ended scheme.
What is an Open-ended Mutual Fund Scheme?
An open-ended mutual fund can issue and redeem the shares at any time. Shares are bought and sold on demand at their NAV. Interested investors can purchase or sell the shares in the fund directly from the fund. There is no need to purchase from existing shareholders.
The shares of an open-ended fund are priced daily based on their day to day Net Asset Value (NAV).
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Any information about nmb saral bachat fund e open ended mutual fund
Hello Namaste! My allotted 10 kittas, CRN # 11402256824, still haven’t been updated on my demat portfolio! When will it be kept? Hope to get my answer soon/thank you!!