ICICI Prudential Mutual Fund new issue closes on 30th June
ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan–Series 58–1 Year Plan B, a close-ended income scheme.
The investment objective of the scheme is to generate regular returns by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the plan under the scheme. The tenure of the scheme is 367 days.
The new issue closes on 30th June. The minimum investment amount is Rs5,000.
Crisil Short Term Bond Fund Index is the benchmark index. Chaitanya Pande is the fund manager.
G Murlidhar is one of the founder members of Kotak Life Insurance
Kotak Mahindra Old Mutual Life Insurance Ltd said that G Murlidhar has been appointed as the managing director of the company.
Mr Murlidhar is one of the founder members of Kotak Life Insurance. He has served the company in various positions of high responsibility over the past decade and was the company's chief operating officer in his immediate prior assignment. It is largely due to his efforts that the company was able to establish a strong operational and service backbone dovetailing into a highly efficient distribution network. Mr Murlidhar is a chartered accountant, company secretary, and cost and works accountant.
The investment will be used to further Fidelity Growth Partners India product portfolio and strengthen Classteacher’s role as an organisation that combines technology and innovation as part of its commitment to education
Fidelity Growth Partners India (FGPI) said that it has invested up to $15M to acquire a minority stake in Mind Shaper Technologies Pvt Ltd. Branded as Classteacher Learning Systems, the company is a pioneer in K-12 educational content in the country.
The investment will be used to further the company's product portfolio and strengthen Classteacher's role as an organisation that combines technology and innovation as part of its commitment to education. At present, the company has one of the largest repositories of digital education content in the industry with about 85,000 teaching modules mapped to multiple education boards. The company offers an integrated solution to assist teaching in classrooms using software, hardware and school support services.
As part of this investment Kabir Narang and Raul Rai with FIL Capital Advisors (India), the private equity advisory arm for FGPI will join the board of the company. Kabir Narang said, "The company has an exhaustive content library that can be leveraged beyond digital whiteboards, a reference base of leading schools across the country and a strong management team."
Rohit Pande, CEO, Classteacher Learning Systems, said "This investment will help us enhance our product offering as well as expand into new segments of education. We see this as a key milestone in our evolution and are glad to partner with FGPI to achieve our goal to support learning and teaching in classrooms across India."