NIC Asia Capital to Launch Rs. 800 Million Equity Opportunity Fund

NIC Asia Capital Limited is preparing to launch its new mutual fund, NIC Asia Equity Opportunity Fund, with a total issue size of Rs. 800 million. The fund will issue 80 million units at a face value of Rs. 10 each. Of the total units, 15% of the units sold, equivalent to 12 million units, will be reserved for the scheme promoter, NIC Asia Bank, while the remaining 68 million units will be offered to the general public. Applications for the fund will open from Ashoj 7, with investors allowed to apply for a minimum of 100 units and a maximum of 10 million units. The issue will remain open until Ashoj 13 and may be extended until Ashoj 21 if sufficient applications are not received. The fund can proceed with allotment if applications are received for at least 50% of the total issue, equivalent to 40 million units. If the minimum subscription requirement is not met, the scheme will be cancelled and the application money will be refunded within 15 days. Operating under the NIC Asia Bank Mutual Fund umbrella, the fund will have a tenure of 10 years and will be structured as a closed-ended scheme. Investors can apply through ASBA-authorized banks and financial institutions as well as the Mero Share website and mobile application. NIC Asia Capital is the issue and sales manager for the fund.