Deadline Extended for the Issue of "NIBL Growth Fund" till Poush 21; Issue Collected Rs. 27.97 Crore So Far
Tue, Dec 27, 2022 10:47 AM on Latest, IPO/FPO News, Mutual Fund,
NIBL Ace Capital Limited has extended the issue of its closed-ended mutual fund scheme "NIBL Growth Fund (NGF)" till 21st Poush, 2079. The issue was opened from 7th Poush and was supposed to conclude today i.e. on 12th Poush, 2079. However, since the issue manager didn't receive enough applications, the issue has been extended till Poush 21.
16 crore unit shares is being issued at a par value of Rs. 10 per unit. 19% of the total units i.e. 3.04 crore units worth Rs. 30.4 crores have been allocated to the fund promoter Nepal Investment Bank Limited whereas 1% of the total units i.e. 16 lakh units have been allocated to the fund manager NIBL Ace Capital Limited. Thus, the remaining 12.80 crore units is for the public issue.
According to CDSC, 20,131 applicants have applied for a total of 27,979,130 units. This data is current as of 10 AM this morning.
"NIBL Growth Fund" is a closed-ended fund, meaning it can be traded in NEPSE. The fund has a maturity period of 10 years. Applicants can apply for a minimum of 100 units to a maximum of 1.6 crore units.
Currently, NIBL Ace Capital is managing two closed-end funds i.e NIBL Pragati Fund (NIBLPF) and NIBL Samriddhi Fund - 2 (NIBSF2), and one open-end fund NIBL Sahabhagita Fund (NIBLSF) in the market.
