KATHMANDU: The application process for the purchase of units of NIC Asia Equity Opportunity Fund under the scheme management of NIC Asia Capital will close from today.

Out of the total 8 crore units at a face value of Rs 10 per unit, a minimum of 15 per cent i. e. 1.2 crore units has been reserved for the scheme promoter NIC Asia Bank. The remaining 6.8 crore units have been issued to the general public.

Applications for the project were opened from September 29 to October 29 but applications for the purchase of units worth more than Rs 800 million have been received till 5 pm on September 28.

According to the approved prospectus, the size of the fund can be increased from Rs 800 crore to a maximum of Rs 1 billion. Therefore, the time to apply for the purchase of units will remain till today, September 29, the banking hours.

This fund is the sixth closed-ended scheme of 10 years. Most of the funds collected in the fund will be invested in companies listed on the stock market. The plan manager has said that the company will study and research and invest in companies with potential good returns and growth potential.

Applications can be made for the purchase of units from a minimum of 100 units to a maximum of 1 crore units. Applications can be submitted through the C-ASBA system from the branch offices of participating banks and financial institutions or through CDS and Clearing Limited’s ‘My Share’ software.

Interested investors can apply for the units as per the legal provisions of the bank, insurance companies and insurance companies, insurance companies and non-resident Nepalese (NRN) identity cards.