A new investment option has opened for Nepali investors as the Machhapuchhre SIP Plan begins its public offering today. The plan is run under the NIBL Mutual Fund and aims to bring long term and disciplined investing closer to small and large investors.
The sale of the Machhapuchhre SIP Plan units has started from today. The plan has Machhapuchhre Bank as the fund sponsor and Machhapuchhre Capital as the plan manager. Out of the total five crore units planned under this scheme, two crore units have been released in the first phase.
Fifteen percent of the total issue has already been set aside for the sponsor and the plan manager. Out of this, seventy lakh units are reserved for Machhapuchhre Bank and five lakh units are kept for Machhapuchhre Capital.
How to Apply
Investors can apply for a minimum of one hundred units and up to twenty lakh units. Applications can be submitted through any ASBA approved bank or financial institution that has permission from the Securities Board of Nepal to collect share applications.
The public sale will close early on Mangsir 17 if all units are subscribed. If not fully subscribed, the sale will continue until Mangsir 28 within banking hours. Machhapuchhre Capital is handling the issue and sales management for the plan.
The total size of the plan is five crore units. The first phase covers two crore units, and the remaining units will be issued later as per schedule.
