NIC Asia Extends Application Deadline for Equity Linked Investment Scheme Until Bhadra 12

NIC Asia Capital Limited has extended the application period for its "NIC Asia Equity Linked Investment Scheme," which was initially open from Shrawan 29. Investors can now apply until Bhadra 12.

The scheme, launched under the NIC Asia Bank Mutual Fund as an open-ended plan, offers 50 million units worth Rs. 500 million at a face value of Rs. 10 each to the general public. Out of a total of 100 million units, 15% (15 million units worth Rs. 150 million) have been secured for the scheme promoter, NIC Asia Bank, while 50 million units from the remaining 85 million have been allocated to the public.

Applications can be placed for a minimum of 100 units and a maximum of up to 10 million units. However, if at least 50% of the units are not subscribed within the extended period, the scheme will be canceled, and refunds will be made within 15 days.

NIC Asia Capital Limited is the issue and sales manager of the scheme. Investors can apply through all ASBA-approved banks and financial institutions as well as via the Mero Share web portal and app. Infomerics Credit Rating Nepal has assigned the fund promoter an "IRN Triple B" rating, while ICRA Nepal has rated the fund manager as “CareNP AMC Quality 3+