Public Issue of 16 Crore Units "NIBL Growth Fund" Mutual Fund Scheme Closing Today

NIBL Ace Capital Limited is closing the issue of its closed-end mutual fund scheme "NIBL Growth Fund (NGF)" from today i.e. on 21st Poush, 2079. The issue was opened from 7th Poush and was supposed to conclude on 12th Poush, 2079. However, since the issue manager didn't receive enough applications, the issue was extended till today.

16 crore unit shares are 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 are for the public issue.

By the 14th day of the public issue, this scheme has received applications for more than 12.3 crore units from more than 41 thousand applicants out of a total of 16 crore units. Despite the current liquidity situation and the slowdown in overall economic activity, common investors are enthusiastically investing in this scheme. Even on the last day of the issue, the scheme manager is confident that there will be a significant number of applications from investors in this scheme, as on other days.

"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.