NIC Asia Flexi Cap Fund IPO opened today-How to apply

NIC Asia Flexi Cap Fund IPO opened today. The issue manager is NIC Asia Capital Limited which open a new closed-end mutual fund scheme “NIC Asia Flexi Cap Fund” worth Rs 1 arba. This fund has a maturity of 7 years.

The NIC Asia Flexi Cap Fund’s opening date is on 19th Jestha and the closing date is on 24th Jestha, 2079. If the NIC Asia Flexi Cap Fund is not subscribed the closing date, it will be extended up to Ashadh 02, 2079.

This fund is sponsored by NIC Asia Bank.

NIC Asia Flexi Cap Fund IPO

The NIC Asia Flexi Cap Fund IPO is 10 crore units worth Rs 1 arba and the per-unit cost is Rs 10 for the issue. The applicant can apply for a minimum of 100 units and a maximum of 1 crore units for this Fund IPO.

A total of 15 % units or 1.50 crore units worth Rs. 15 crores have been reserved for the fund promoter NIC Asia Bank Limited and the remaining 8.50 crores units are issued to the general public.

CARE Ratings Nepal Limited (CRNL) has revised the issuer rating of NIC Asia Bank Limited (NIC Asia) to “CARE-NP A- (Is) [Single A Minus (Issuer)]‟ from “CARE-NP A (Is) [Single A (Issuer)]”. Issuers with this rating are considered to offer an adequate degree of safety regarding timely servicing of financial obligations, in Nepal. This means that the issuer carries low credit risk.

NIC ASIA Capital Limited is a 100% subsidiary of NIC ASIA Bank Limited. NIC ASIA Capital was incorporated under the Companies Act 2007 of Nepal and is licensed by the Securities Board of Nepal to undertake Merchant Banking activities which includes services like Issue Management and Underwriting, Registrar to Share, Depositary Participant and Portfolio Management.

NIC Asia Capital Limited

NIC ASIA Bank Limited, our parent company, is a “A” Class financial institution licensed by Nepal Rastra Bank. NIC ASIA Bank is one of the largest private sector commercial banks in the country in terms of capital base, balance-sheet size and number of branches, ATM network and customer base. The Bank has more than 255 branches across Nepal with a network covering all major financial centers of the country. The Bank has also added a Microfinance Company, “NIC ASIA Microfinance” in its echosystem. The Bank strongly believes in meritocracy, transparency, professionalism, team spirit and service excellence. These core values are internalized by all functions within the Bank and its subsidiaries that include NIC Asia Capital Limited.

NIC ASIA Bank Ltd

NIC ASIA Bank has its antecedents in NIC Bank which was established on 21st July 1998. The Bank was rechristened as NIC ASIA Bank after the merger of NIC Bank with Bank of Asia Nepal on 30th June 2013. This was a historic merger in the annals of the Nepalese financial landscape as the first of its kind merger between two successful commercial banks in the country. Today, NIC ASIA has established itself as one of the most successful commercial banks in Nepal.

During the post-merger integration phase, NIC ASIA managed the transition very smoothly receiving accolades from the regulators as well as the stakeholders, paving the way for other mergers and consolidation in the Nepalese financial sector. After the merger, NIC ASIA was recognized as ”Bank of the Year 2013-Nepal” by The Banker, Financial Times, UK. This is the second time that the Bank was recognized with this prestigious award, the previous occasion being in 2007.

NIC ASIA Bank is now, one of the largest private-sector commercial banks in the country in terms of capital base, balance-sheet size, number of branches, ATM network, and customer base. The Bank has 359 branches, 102 extension counters, 81 branchless banking, and 473 ATMs across Nepal with a network covering all major financial centers of the country. The Bank strongly believes in Meritocracy, Transparency, Professionalism, Team spirit, and Service Excellence. These core values are internalized by all functions within the Bank and are reflected in all actions the Bank takes during its business.

How to apply for NIC Asia Flexi Cap Fund IPO ?

NIC Asia Flexi Cap Fund IPO
NIC Asia Flexi Cap Fund IPO

The investors can apply for the NIC Asia Flexi Cap Fund from the online portal of CDSC – Mero Share starting from Jestha 19 to Jestha 24, 2079. The applicant must have DEMAT a/c before applying for the NIC Asia Flexi Cap Fund.

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