NISM Series XIX-A case set 2

Maple Fund holds 25% of Company A and 40% of Company B. An independent valuation exercise estimates the equity value of Company A at ₹80 crore and Company B at ₹50 crore. These are equity values after considering each company’s own debt, and the holdings carry no special rights requiring a separate adjustment. The fund also has ₹5 crore in cash and ₹3 crore in accrued fund liabilities. Ten lakh fund units are outstanding. Assume ownership percentages apply directly to these equity values. No other investments, liabilities, valuation discounts or unit classes exist. The administrator is preparing an estimated NAV report, and a distributor is checking the arithmetic before explaining it to investors.

Company values are hypothetical estimates, not guaranteed sale prices.

Use crore for fund amounts and the stated ten lakh units for NAV per unit.