Matured NIBL Samriddhi Fund-1 (NIBSF1) Auctioning Remnant Debenture Units
Sun, Feb 13, 2022 5:02 PM on Latest, Auction, Mutual Fund, Bonds & Debentures,
On its maturity, NIBL Samriddhi Fund-1 (NIBSF1) is auctioning its remnant investment.
The 7-year, closed-end mutual fund scheme managed by NIBL Ace Capital Limited and promoted by Nepal Investment Bank Limited matured on Poush 22, 2078. As such, the fund will have to auction away the shares of companies and debentures that are under its ownership. All securities should be liquidated and unitholders should be paid back within 3 months from the date of maturity.
Thus, the auction for debentures has opened today, i.e. on Falgun 01. It will conclude on Falgun 08.
The following securities are being auctioned:
9% NIC Asia Debenture 2081/82 (NICAD8182)
8.5% Global IME Bank Ltd. Debenture 2086/87 (GBILD86/87)
8.5% Nepal Bank Rinpatra 2087 (NBRD)
Sequentially, 12,500, 10,000, and 50,000 units of the debentures are being auctioned. They will mature on 2087-01-05, 2082-04-19, and 2087-12-20 respectively.
Bidders should bid for a minimum of 1000 units. Any quantity higher than that should be a multiple of 100.
NIBL Ace Capital itself is the issue manager. Bids will be opened at the premises of the auction manager on Falgun 09, starting at 10 am that day.
More About the Fund
The public issue for NIBL Samriddhi Fund –I opened on Mangsir 17 2071 (3 December 2014) and closed on Mangsir 21 (7 December). The public issue was oversubscribed more than 3 times. The allotment for NIBL Samriddhi Fund - I was done on 23 Poush, 2071 (7 January, 2015) in the premise of NIBL Capital Markets.
The mutual fund had 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 the total of 100,000,000 units, 15 percent were allocated for Nepal Investment Bank and NIBL Capital Ltd. together. The remaining 85,000,000 units were set allotted to the general public.
The mutual fund scheme’s NAV stands at Rs. 12.62 as of Mangsir end, 2078 which was Rs. 12.66 in the previous month. Till the month of Mangsir, the fund had invested Rs. 2.73 crores in the listed shares and Rs. 14.79 lakhs in public issues, right shares, and bonus shares. The scheme had Rs. 1 Arba in fixed deposits and had invested Rs. 10.45 crores in bonds and debentures. This scheme had Rs. 9.74 crores in the bank balance.
NIBSF1 posted a net profit of Rs. 1.22 crores in the month of Mangsir. Its profit for the previous month was Rs. 1.58 crores.
