Final Day to Apply for Units of HLI Large Cap Fund
Himalayan Life Insurance’s NPR 4B closed-end HLI Large Cap Fund closes today, with 200M units offered to the public.
Himalayan Investment Banker Limited, a subsidiary of Himalayan Life Insurance, will close applications for its first closed-end mutual fund scheme, the HLI Large Cap Fund, today (Bhadra 19, 2082). The issue was opened on Bhadra 15.
The scheme involves the issuance of 400 million units at a par value of NPR 10 each, amounting to NPR 4 billion. Of this, 200 million units (NPR 2 billion) are reserved for the promoter, Himalayan Life Insurance, while the remaining 200 million units (NPR 2 billion) are available for the general public.
Applicants must apply for a minimum of 100 units and can apply for up to 40 million units. The closed-end fund will have a tenure of 10 years from the date of allotment. If at least 50% of the issue is subscribed within the application period (including any extended deadline), the units will be allotted. Otherwise, the scheme will be canceled, and refunds will be made within 15 days.
Himalayan Investment Banker Limited is the issue and sales manager. Applications can be submitted via all C-ASBA member banks and financial institutions and their branches, as well as online through the Mero Share portal of CDS and Clearing Ltd.
For the issuance, Infomerics Credit Rating Nepal has rated the promoter IRN A+ Issuer Rating, while the scheme manager has been assigned an IRN AMC Quality 3 rating, reflecting moderate management quality.
The fund aims to offer investors long-term exposure to large-cap stocks in Nepal’s equity market, providing a structured investment vehicle with professional management.