ICICI may bail out SRF rights issue
SRF's Rs 47.67-crore rights issue of equity shares, which closed on April 17, is facing a shortfall of around 4% in the mandatory level of 90 per cent. However, the shortfall is likely to be made good by ICICI which had underwritten the issue to the tune of Rs 5 crore.
SEBI adds 22 scrips to compulsory demat list
The Securities and Exchange Board of India (SEBI) has expanded by 22 the number of stocks in which institutions will be allowed to trade in the demat mode only. The diktat will come into effect from June 1. This will take the number of stocks in which institutions can only trade in the demat form to 30.
Software Solution mulls preferential allotment to Foreign funds, NRIs
The Chennai-based Software Solution Integrated Ltd proposes to place almost 10% of its equity with FIIs/NRIs/corporate bodies on a preferential allotment basis. The company is reportedly on the lookout for a buyer to place 4.5 lakh shares at a price determined on the basis of SEBI guidelines.
Templeton to launch money market MF
Templeton Asset Management Company plans to launch a money market mutual fund (MMMF) in the month of May this year. The mutual fund has already filed papers with SEBI for approval. The Templeton Mutual Fund presently has two funds under it -- Templeton India Growth Fund and Templeton India Income Fund.
Alliance '95 unveils growth option for unitholders
Alliance Mutual Fund's balanced fund, Alliance '95 has incorporated a growth plan for existing and prospective unitholders seeking tax reliefs. Unitholders under the growth plan will not receive dividends but will benefit from capital appreciation. The growth plan will also enable unitholders to take certain tax benefits.
UTI launches interval fund UGS 10000
Unit Trust of India (UTI) has launched an interval fund, UGS 10000. Initially, the fund is being exclusively offered to unit holders of UGS 2000 and UGS 5000. The unitholders can apply to a minimum of 500 units and a maximum of 1000 units. The issue size is Rs 1317.87 crore.
