RBB Merchant Banking To Close IPO Of ‘RBB Mutual Fund 1’ From Ashad 27

July 11, 2021 | Investopaper

RBB Merchant Banking Limited has launched its first mutual fund scheme named ‘RBB Mutual Fund 1’. The fund manager is currently issuing the units of the scheme to the general public from Ashad 23, 2078 BS. Due to the over-subscription of the scheme, the issue will close on Ashad 27, 2078 BS. If it had remained under-subscribed until that period, the deadline for application would extend until Shrawan 6, 2078 BS.

The fund manager is selling 10 crore units of the scheme at a par value of Rs 10 per unit. Hence, the total issue size amounts to Rs 1 Arba. The scheme will operate under RBB Mutual Fund managed by the fund manager RBB Merchant Banking Limited.

Securities Board of Nepal (SEBON) had provided the approval on Ashad 10, 2078 BS for selling the scheme to the general public. The company had submitted the application to SEBON on Falgun 11, 2077 BS for the public offering.

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Rastriya Banijya Bank is the promoter company of RBB Mutual Fund. Hence, the bank will purchase 13 percent or 1.3 crore units of the scheme. Likewise, the fund manager RBB Merchant Banking Limited will buy 2 percent or 20 lakh units. Hence, the general public can apply for the remaining 8.5 crore units worth Rs 85 crores.

One can apply for a minimum of 10 units and a maximum of 1 crore units.

RBB Mutual Fund is a close-ended mutual fund scheme. The units of the scheme will be listed and traded on Nepal Stock Exchange (NEPSE).

Investing in a mutual fund can be a good strategy for most investors as it offers decent returns at a low level of risk. Mutual funds are managed by professional experts and provide wide diversification.

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