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Foreigners: Foreign institutional investors were net buyers of stocks (Rs754.05 crore). They...

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Kotak Mutual Fund launches Hybrid Fixed Term Plan–Series I

Kotak Mutual Fund new fund offer closes on January 12, 2012

Kotak Mutual Fund today announced the launch of Kotak Hybrid Fixed Term plan – Series I. The Scheme aims to generate income by investing in debt and money market investment and also generate capital appreciation by investing in equity and debt instruments. It is a close-ended fund with maturity of 24 months.

The minimum investment amount is Rs10,000. The scheme offers growth and dividend payout option. The units of the scheme will be listed on BSE on allotment.

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Preludesys India files DRHP with SEBI for Rs81.30 crore IPO

Preludesys intends to use issue proceeds for setting up of global delivery centre (with an outlay of Rs11.2 crore) and other business activities.

IT enabled business solutions provider, Preludesys India has filed draft red herring prospectus with SEBI for public issue of Rs81.30 crore.

The company offers services like software development, enterprise application services, QA and testing, BPO and strategic sourcing, with a strong focus on specific verticals like manufacturing, media, technology, banking, financial services and insurance.

Preludesys intends to use issue proceeds for setting up of global delivery centre (with an outlay of Rs11.2 crore); opening 8 branches across USA and Asia Pacific region (with cost of Rs16 crore); accelerating development and go to market efforts of enterprise mobility solution (with Rs9.1 crore); and repaying the existing loan (with Rs8 crore). Birla Capital and Financial Services Ltd is the book running lead manager to the issue.

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