NIC Asia Equity Opportunity Fund Opens Today: Applications Open Until Ashoj 13

NIC Asia Capital Limited has opened the issue of its new mutual fund, NIC Asia Equity Opportunity Fund, from today, Ashoj 7, 2083. The closed-end fund has offered 8 crore units worth Rs. 80 crore at a face value of Rs. 10 per unit. Of the total units, 15% or 1.20 crore units have been reserved for the fund promoter, NIC Asia Bank, while the remaining 6.80 crore units are being offered to the general public. Investors can apply for a minimum of 100 units and a maximum of 1 crore units. The initial application period will remain open until Ashoj 13. If the issue does not receive sufficient applications during the initial period, the deadline may be extended until Ashoj 21. The fund can proceed with allotment if applications are received for at least 50% of the total issue, equivalent to 4 crore units, during the initial or extended application period. If the minimum subscription requirement is not met, the scheme will be cancelled and the refund process will be initiated within 15 days. Operating under the NIC Asia Bank Mutual Fund umbrella, the fund has a 10-year maturity period and is a closed-end mutual fund. Investors can apply through ASBA-enabled banks and financial institutions as well as the Mero Share website and mobile application. NIC Asia Capital is the issue and sales manager.