Kathmandu. The deadline to apply for the purchase of units under the Nepal Life Prosperity Investment Scheme has been extended.
The units of the scheme were opened on January 18. The public release of this scheme was scheduled to be closed on January 22. However, the issuance will be closed after the banking hours on February 18 as the applications have not been received as per the demand. If more applications are received than the demand, the issue will be stopped by publishing a notice before February 1.
The fund sponsor of the scheme is Nepal Life Insurance and Nepal Life Capital is the project manager. The Securities Board of India (SEBON) has approved the sale of a total of 16 crore units of the scheme.
Out of the total issue, 2.24 crore units have been set aside for the promoter of the scheme and 16 lakhs have been set aside for the project manager Nepal Life Insurance. The general public can apply for the remaining 13.60 crore units.
Applications can be place for minimum 100 units and maximum 1.60 crore units. The applications can be submitted from the banks and financial institutions participating in the ASBA service approved by the Securities Board of India (SEBON) and from CDSC’s My Share.
