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Feb 12 2013, 01:29 IST

regulatory approvals. While granting its approval to the request, the Securities and Exchange Board of India (Sebi), on its part, has said that UK-based Diageo will have to pay an interest of 10% per annum for the period of delay to the public shareholders tendering their shares in the open offer. The revised schedule would be announced in due course after all the regulatory approvals, Diageo's manager for the open offer, JM Financial, said in a notice to shareholders. On January 31, Sebi had cleared an open offer by Diageo for purchase of 26% stake in USL, which is part of a $2-billion deal involving the UK-based company acquiring a majority stake in the Vijay Mallya-led UB group firm. However, the deal is yet to be cleared by fair trade regulator CCI.

UTI Mutual Fund launches RGESS

UTI Mutual Fund has launched UTI Rajiv Gandhi Equity Saving Scheme, a close-ended scheme, targeting investment under the government-notified RGESS plan. The scheme opened for subscription on February 9 and will close on March 8. UTI-RGESS is a close-ended passive index fund tracking S&P CNX Nifty Index with a tenure of three years from the date of allotment. The investment objective of the scheme is to invest in stocks of companies comprising S&P CNX Nifty and aims to achieve return equivalent to Nifty by ‘passive’ investment.

Indiabulls MF launches income fund

Indiabulls Mutual Fund launched its second duration product, Indiabulls Income Fund, an open-ended debt scheme on Monday. The new fund offer (NFO) will open for subscription on

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IDBI Mutual Fund gets Sebi nod for RGESS Rajiv Gandhi Equity Savings Scheme initial offering time-frame extended by SebiSebi allows liquidity enhancement schemes in equity cash mkt Sebi to auction bonds worth $11.3 bn for FIIs this mth

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