NMB Bank’s subsidiary NMB Capital has said that its debut mutual fund- ‘NMB Sulav Investment Fund-I’- will be opened from Ashoj 2 to the public for subsricption.
Publishing the offer letter today, NMB Capital has said that the IPO that will be closed on Ashoj 6 while it can be extended up to Ashoj 20.
NMB Sulav Investment Fund – I is a closed end fund with an initial corpus of Rs 60 crore, and may exceed up to Rs 75 crore.According to the offer letter, an investor can apply up to 100 units of the shares while 6,000,000 units is the maximum limit.
The mutual fund is being floated at the face value of Rs 10. NMB Sulav Investment Fund has received [ICRANP] AMC Quality 3 (AMCs), which is a very good credit rating.
Out of total 60,000,000 units, NMB Capital has allocated 9,000,000 units or 14 percent of the total sold units for the NMB Bank while 1 percent has been allocated for the NMB Capital.
Remaining 51,000,000 will be allocated to the public.
The investors have to pay Rs 10 per unit while submitting the form.
According to NMB Capital’s Chief Operating Office Kamal Prasad Nepal, NMB Bank will be contributing 14 percent of the required 15 percent seed money for the five-year scheme, NMB Capital will chip in 1 percent of the seed money.
Stock analysts believe that the entry of mutual fund helps to stabilize the volatility of the stock market.
With NMB Sulav Investment Fund – , there are now four mutual funds in the market, including two operated Siddharth Capital Limited (SIG-1 and SEOS), and one managed by Nabil Investment Banking Limited (NBF-1).
source: sharesansar.com,9 sept 2014
LINK
Publishing the offer letter today, NMB Capital has said that the IPO that will be closed on Ashoj 6 while it can be extended up to Ashoj 20.
NMB Sulav Investment Fund – I is a closed end fund with an initial corpus of Rs 60 crore, and may exceed up to Rs 75 crore.According to the offer letter, an investor can apply up to 100 units of the shares while 6,000,000 units is the maximum limit.
The mutual fund is being floated at the face value of Rs 10. NMB Sulav Investment Fund has received [ICRANP] AMC Quality 3 (AMCs), which is a very good credit rating.
Out of total 60,000,000 units, NMB Capital has allocated 9,000,000 units or 14 percent of the total sold units for the NMB Bank while 1 percent has been allocated for the NMB Capital.
Remaining 51,000,000 will be allocated to the public.
The investors have to pay Rs 10 per unit while submitting the form.
According to NMB Capital’s Chief Operating Office Kamal Prasad Nepal, NMB Bank will be contributing 14 percent of the required 15 percent seed money for the five-year scheme, NMB Capital will chip in 1 percent of the seed money.
Stock analysts believe that the entry of mutual fund helps to stabilize the volatility of the stock market.
With NMB Sulav Investment Fund – , there are now four mutual funds in the market, including two operated Siddharth Capital Limited (SIG-1 and SEOS), and one managed by Nabil Investment Banking Limited (NBF-1).
source: sharesansar.com,9 sept 2014
LINK
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