Allotment of NIBL Samriddhi Fund-I, 100% up to Rs 50,000 & 34.77% to rest
Thu, Jan 8, 2015 12:00 AM on Mutual Fund, Share Allotment,
ShareSansar, January 8:
The allotment of ‘NIBL Samriddhi Fund-I’ -promoted by the Nepal Investment Bank and operated by Bank’s subsidiary NIBL Capital Limited- took place yesterday.
According to the NIBL Capital, it has allotted 100 percent to those who applied up to Rs 50,000 units and 34.77 percent for those who applied more.
The seven-year closed end NIBL Samriddhi Fund-1, the first mutual fund launched by NIBL Capital Limited and managed by Nepal Investment Bank Limited, has been oversubscribed by more than 3 times. The issue was closed on 21st Mangsir, 2071.
The mutual fund was originally offered 80 million units, but following a high number of applications for the mutual fund units priced at Rs 10, the fund manager allotted units worth Rs 1,000 million as allowed by the Mutual Fund Regulations 2067.
Out of total 100,000,000 units, 15,000,000 units or 15 percent of the total sold units has been allotted for the Nepal Investment Bank and NIBL Capital Ltd. together and the remaining 85,000,000 units was set aside for the general public.
