NIBL Samriddhi Fund – I has been listed on NEPSE today, 22 Magh 2071 (5 February 2015) in a signing ceremony between the CEO of NIBL Capital Markets, Mr. Shivanth Pande and the General Manager of Nepal Stock Exchange, Mr. Sitaram Thapaliya.

The issue for NIBL Samriddhi Fund –I opened on Mangsir 17 2071(3 December 2014) and closed on Mangsir 21 (7 December). NIBL Capital Markets Ltd. a wholly owned subsidiary of Nepal Investment Bank Ltd. was the issue and sales manager.

Due to the overwhelming response the fund received, the corpus was increased to Rs. 1 billion from Rs. 80 crores. A total of Rs. 2.05 billion was collected in the issue, resulting in an oversubscription of 3.02 times.

The allocation for NIBL Samriddhi Fund – I was done on 23 Poush (7 January) in the premise of NIBL Capital Markets. The number of allottees, including seed capital investors stood at 9402. Investors who applied for up to 5000 units were allotted the full amount, while investors who applied for more than 5000 units were allotted 34.78%. Of the total allotment, 65% was subscribed by institutional investors, including seed capital investors, while 35% by individual investors.

NIBL Samriddhi Fund -1 is a closed end fund with maturity of 7 years from the date of allotment.

Nepal Investment Bank Ltd. is the sponsor of “NIBL Mutual Fund”, and NIBL Capital Markets Limited is the Fund Manager & Depository of the fund. NIBL Capital Markets Ltd. had received “[ICRANP] AMC Quality 3 (AMC3)” from ICRA Nepal in June 2014. Nepal Investment Bank Ltd. had received approval from SEBON for NIBL Samriddhi Fund -1 on 30 Kartik 2071 (16 November 2014).

Please click for the press release in Nepali: NIBL Samriddhi Fund – I Listing (Nepali)