Servalakshmi Paper receives SEBI nod for IPO

Servalakshmi Paper proposes to enter capital markets with a public issue of equity shares aggregating Rs60 crore

Servalakshmi Paper Ltd, engaged in the business of manufacturing printing and writing paper and newsprint, has received SEBI nod for its proposed IPO. The company proposes to enter capital markets with a public issue of equity shares aggregating Rs60 crore through 100% book building process.

The company proposes to utilise the net proceeds of the issue for purchase of equipments for producing value added products, augmenting long term working capital requirement and to meet the preliminary & pre-operative expenses. Keynote Corporate Services Ltd is the book running lead manager to the issue and Indian Overseas Bank is the co-book running lead manager to the issue. Link Intime India Pvt Ltd is the registrar to the issue.

The company has embarked upon setting up an integrated paper mill with a capacity to produce 300 tonnes per day (TPD) i.e. 90,000 tonnes per annum, along with a 15 MW multi-fuel captive power plant at a single location. The total investment is estimated to be Rs340 crore and the entire project is set to be completed in two phases. The company has completed the Phase-I of the project and has started the commercial production on 1April 2010. The company intends to meet the requirements of Phase-II through the proposed IPO.

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SBI Mutual Fund launches Capital Protection Oriented Fund Series II

SBI Mutual Fund new issue closes on 4th March

SBI Funds Management has launched SBI Capital Protection Oriented Fund Series II, a five year close-ended scheme.

The investment objective of the scheme is to protect the capital on maturity of the scheme, (which for this scheme, falls on 10 March 2016) through focused investment in equity, debt and money market instruments and at the same time also seek to provide investors with opportunities for long-term growth in capital.

The new fund offer opens on 18th February and shall close on 4th March. The units would be allotted on 11th March and the net asset value (NAV) would be disclosed on a daily basis, thereafter. The new fund shall neither have any entry load nor exit load.

The minimum initial investment is Rs5,000. The fund's benchmark index is the BSE 100 Index.

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Kotak Mahindra Mutual Fund launches 370 days plan

Kotak Mahindra Mutual Fund new issue closes on 22nd February

Kotak Mahindra Mutual Fund has launched Kotak FMP Series 37 (370 Days), 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 new issue closes on 22nd February. The minimum investment amount is Rs5,000.

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