Faering Capital India Evolving Fund has a corpus of Rs830 crore
Faering Capital has announced the closing of its maiden private equity fund-Faering Capital India Evolving Fund in December 2010 with a corpus of Rs830 crore. The Fund is registered as a venture capital fund under the SEBI (Venture Capital Funds) Regulations, 1996.
Faering Capital will adopt a disciplined investment approach to develop proprietary investment theses and identify attractive small to medium sized growth companies with proven business models. Additionally, as a prerequisite to investment, Faering Capital shall assign significant consideration to the investee company's record of corporate governance, and the quality of its management team.
Indian Bank has increased rate to 9.50% per annum
Public sector lender Indian Bank has increased its base rate by 0.5% with immediate effect.
"The base rate is revised by 0.50% from the existing rate of 9% to 9.50% per annum with effect from 1 February 2011," the Chennai-based bank said in a statement today.
UTI Banking Sector Fund has declared a tax-free dividend of Rs2.50 per unit
UTI Banking Sector Fund has declared a tax-free dividend of 25% (Rs2.50 per unit on face value of Rs10). Pursuant to the payment of dividend, the NAV of the dividend option of the fund would fall to the extent of payout and statutory levy if any.
The record date for the dividend is 3 February 2011. All unitholders registered under the dividend option of UTI Banking Sector Fund as on 3 February 2011 will be eligible for this dividend. Also investors who join the dividend option of the fund on or before the record date will be eligible for the dividend.
The NAV per unit as on 28 January 2011 was Rs23.82 under the dividend option.