Rush of Applications for NIC Asia Equity Opportunity Fund, Last Day Today
Applications for the purchase of units of 'NIC Asia Equity Opportunity Fund', managed by NIC Asia Capital, can be submitted until banking hours today, Ashwin 13. By 5 PM on Ashwin 12, applications worth more than Rs 80 crore had already been received, exceeding demand.
Kathmandu — The deadline for submitting applications to purchase units of 'NIC Asia Equity Opportunity Fund', operated under the scheme management of NIC Asia Capital, remains until banking hours today, Ashwin 13. The company has stated that by 5 PM on Ashwin 12, applications for unit purchases equivalent to more than Rs 80 crore had been received, exceeding demand.
Out of a total of 8 crore units with a face value of Rs 10 per unit, a minimum of 15 percent, i.e., 1 crore 20 lakh units, has been reserved for the scheme promoter NIC Asia Bank. The remaining 6 crore 80 lakh units have been issued to the general public.
According to the approved prospectus, the fund size can be increased from Rs 80 crore to a maximum of Rs 1 arba. This fund is the sixth closed-end scheme with a tenure of 10 years.
Most of the funds collected in the scheme will be invested in companies listed on the securities market. The scheme manager has stated that investments will be made after studying and researching companies with potential for good returns and growth capacity.
Applications for unit purchases can be made for a minimum of 100 units to a maximum of 1 crore units. Applications can be submitted through the C-ASBA system at branch offices of participating banks and financial institutions or through the 'Mero Share' software of CDS and Clearing Limited.
Eligible applicants include:
- Nepali citizens
- Individuals holding Non-Resident Nepali identity cards
- Nepali firms, associations, and organizations registered under the law
- Banks and financial institutions
- Insurance companies and various other institutional investors