NIC Asia Capital Completes First Phase of Equity Linked Investment Scheme with 1.48x Oversubscription
NIC Asia Capital’s equity-linked investment scheme saw strong demand, with Rs. 74.03 crore applied against Rs. 50 crore offered in phase one.
NIC Asia Capital Limited has announced the successful completion of the first phase of its Equity Linked Investment Scheme, which closed with strong investor demand.
During the subscription period from 29th Shrawan to 12th Bhadra, 2082, the scheme invited applications for 5 crore units at Rs. 10 each, equivalent to Rs. 50 crore. The issue was oversubscribed 1.48 times, with 82,828 applicants seeking units worth Rs. 74.03 crore. After excluding 91 invalid applications, a total of 82,737 investors were allotted units worth Rs. 74.017 crore.
Although the first phase targeted 5 crore units, the Securities Board of Nepal (SEBON) has approved up to 10 crore units (Rs. 1 Arba) for the scheme. Allocation followed the Securities Allocation Directive, 2074, ensuring proportional distribution among applicants.
The scheme is an open-ended plan, which will allow repurchase, SIP, and mini-SIP registration within three months. Regular trading of units is also planned.
NIC Asia Capital, acting as issuer, sales manager, and scheme manager, expressed gratitude to SEBON, CDS & Clearing, banking partners, media, and investors for their support in the successful launch.