Company Profile

NIC ASIA Capital Limited's new mutual fund scheme “NIC Asia Balance fund (NICBAL)” is promoted by NIC Asia Bank and managed by NIC Asia Capital.

NIC Asia Bank Limited (NIC Asia) is one of the top 5 “A” Class (Commercial) banks of Nepal in terms of Interest Income, Net Interest Income, Deposits and Advances as on April 14, 2019. The 93.68% of the total shareholding of the Bank is held by individual general public and 6.32% by corporate entities as on July 16, 2018; among which 51% belongs to promoter group shares and 49% belongs to general public.

NIC Asia has certified by ISO 9001:2008 Certificate for Quality System on Commercial Banking Activities. The Bank has two wholly owned subsidiary companies operating in Nepal namely NIC Asia Capital Limited (undertake merchant banking activities) and NIC Asia Laghubitta Bittiya Sanstha Limited (microfinance business). 

The paid-up capital of NICA stands at Rs 8.83 arba and reserve and surplus stands at Rs 5.5 arba as of third quarter of fiscal year 2075/76. It has recorded the profit of Rs 2.73 arba upto the third quarter of 2075/76.

The bank currently has 292 branches, 52 extension counters and 315 ATM terminals in operation all over the nation.

NIC Asia Capital is a wholly owned subsidiary of NIC Asia Bank. It is licensed by SEBON to act as a merchant banker (including services like issue management, underwriting, share registrar etc) and investment banker (including services like asset management services, private placement, portfolio management, depository participant etc). It started its fund management and depository services by launching a seven-year close-ended MF scheme in March 2018.

About the issue

NIC ASIA Capital Limited's new mutual fund scheme “NIC Asia Balance fund” worth Rs 1.25 arba with the maturity of 10 years is open for application.

The issue had opened since Shrawan 4, 2076 and the closing date was on Shrawan 12, 2076 at the earliest. However, since the issue manager didn't receive enough application, the issue has been extended till Bhadra 5, 2076.

This fund is managed by NIC Asia Capital limited and sponsored by NIC Asia Bank limited and runs under NIC Asia mutual fund.

The issue will be of 12,50,00,000 worth Rs 10 per unit. An investor can apply for minimum of 100 units and maximum of 1.75 crore units.

85% of the total issue i.e. 10.625 crore units will be open for general public and remaining 15% will be kept as seed capital for sponsor NIC Asia Bank Limited and NIC Asia Capital Limited.

Currently, NIC Asia Growth Fund (NICGF), managed by NIC Asia Capital is also in the market. The Net Assets Value (NAV) of NICGF stood at Rs 11.15 as of Jestha 2076.