NIBL Ace Capital Extends Deadline for “NIBL Stable Fund” Until Magh 16

NIBL Ace Capital Limited has launched a new mutual fund scheme named “NIBL Stable Fund”. The fund manager is currently issuing the 10 crore units of “NIBL Stable Fund” from Magh 2, 2080 BS. At a par value of Rs. 10, the total issue amounts to Rs. 100 crores.

If fully subscribed, the scheme offering was set to close on Magh 5, 2080 BS. However, due to under-subscription until that period, the deadline for application has extended until Magh 16, 2080 BS.

Out of the total public issue, 15 percent or 1.5 crore units of the fund will be purchased by Nepal Investment Bank, the promoter bank of the mutual fund and NIBL Ace Capital Limited, the fund manager.

Hence, the general public can participate in the remaining 8.5 crore units. One can apply for a minimum of 100 units and a maximum of 1 crore units.

For this purpose, Securities Board of Nepal (SEBON) had given permission to the company on Ashad 22, 2080 BS to issue the units to the public. The fund manager had submitted the application to the board on Ashwin 7, 2079 BS. Only after the permission from the regulatory body SEBON, the mutual fund scheme can be floated to the general public.

The close-ended scheme “NIBL Stable Fund” will operate under “NIBL Mutual Fund”. The mutual fund scheme will have the maturity period of 12 years.

After the allotment of the scheme, it will be listed and traded on the Nepal stock exchange.