Kotak Mahindra Mutual Fund unveils 24 months fixed maturity plan

Kotak Mahindra Mutual Fund new issue closes on 17th May

Kotak Mahindra Mutual Fund has launched Kotak FMP Series 47 (24M), a close-ended income scheme.

The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. The scheme will invest in debt and money market securities, maturing on or before maturity of the scheme. The tenure of the scheme will be 24 months.

The new issue closes on 17th May.

CRISIL Short Term Bond Index is the benchmark index. Deepak Agrawal and Abhishek Bisen will be the fund managers for the scheme.

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ICICI Prudential Mutual Fund floats one year fixed maturity plan

ICICI Prudential Mutual Fund new issue closes on 18th May

ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan-Series 56-1 Year Plan F, a close-ended income scheme.

The investment objective of the Plan is to seek 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 tenor of the plan is one year.

The new issue closes on 18th May. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Chaitanya Pande is the fund manager.

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Future Ventures India tumbles in debut trade on bourses

Future Ventures India stock opened at Rs9 apiece, down 10% from the issue price in morning trade on the NSE

Future Ventures India, a part of the Future Group, made a weak opening on the bourses today and fell by 10% on the National Stock Exchange (NSE) vis-a-vis the issue price of Rs10 per share.

The stock opened at Rs9 apiece, down 10% from the issue price in morning trade on the NSE. Later, the scrip was trading lower by 13.50% at Rs8.65 apiece.

In a similar fashion, the stock debuted at Rs9.50, down 5% from the issue price, on the Bombay Stock Exchange.

The company had entered the capital market with a price band of Rs10-Rs11 per share through a Rs750 crore public issue.

It plans to utilise the IPO’s proceeds to fuel acquisition plans in the FMCG, food and fashion segments.

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