"NIBL Stable Fund" Allotted to Applicants; Total Fund Size Extended to Rs 113 Crores

NIMB Ace Capital Limited issued its latest closed-end mutual fund scheme, the "NIBL Stable Fund," with a total value of Rs 1 Arba. The subscription period for this fund commenced on the 2nd of Magh and concluded on the 16th of Magh, 2080. The allotment program, conducted at the premises of the fund manager, NIMB Ace Capital in Lazimpat, was completed on the 24th of Magh at 9 AM.

The fund initially intended to comprise 10 crore units with a per-unit cost of Rs 10, experienced significant oversubscription, resulting in a resizing to 113% of its original size. Consequently, the total units issued for the "NIBL Stable Fund" reached 11.3 crore units.

Out of the total issue, 10 lakh units worth Rs. 1 crore were allocated to the scheme manager, NIMB Ace Capital Limited, while the fund sponsor, Nepal Investment Mega Bank Limited, received 1.4 crore units worth Rs. 14 crore. The remaining 8.5 crore units, valued at Rs 85 crore, were issued to the general public.

Interestingly, 39,271 applicants submitted applications, resulting in an oversubscription that exceeded expectations, reaching 958,491,160 units. Following the Mutual Fund Scheme Directive of 2069, the fund management has the authority to allocate units up to 25 percent more than the originally offered units during the unit allocation process. This provision allows for fair distribution, particularly among applicants who applied for units surpassing the initially offered quantity.

Currently, NIBL Mutual Fund oversees the operations of four Closed End schemes, namely, "NIBL Pragati Fund," "NIBL Samriddhi Fund-II," "NIBL Growth Fund," and "Mega Mutual Fund 1." Additionally, there is one Open Ended Mutual Fund Scheme known as "NIBL Sahabhagita Fund." The successful introduction of the "NIBL Stable Fund" further strengthens the diverse portfolio managed by NIMB Ace Capital Limited.