The capital is issuing 100 million units of mutual funds at a face value of Rs 10 per unit. Out of total offered units, the capital has allocated 14 percent or 14 million mutual fund units for fund promoter Garima Bikas Bank. Similarly, it has allocated 1 million units to fund manager Garima Capital. The remaining 85 million mutual fund units will be issued to the general public.
The issue will close early on on December 26 and lately on January 5. The interested applicants can apply for a minimum of 100 and maximum of 10 million units of mutual funds.
If the issue goes undersubscribed by 50 percent by the extended deadline, it will be cancelled and applicants will be refunded within 15 days.
NIMB Ace Capital is the issuer and manager of the fund. The close ended mutual fund will mature in 10 years. The applicants can apply from all ASBA approved BFIs and Meroshare.
