Ch.5 · NFO Process and Rules · hard
What happens to NFO subscription money if the minimum subscription amount is not collected?
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EXPLANATION
If the AMC fails to collect the minimum subscription amount during the NFO period, the scheme cannot be launched. All subscription money must be refunded to investors within 5 business days from the date of closure of the NFO. Interest at the applicable rate is payable for any delay beyond this period.
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