IDBI MF expects to collect R100 cr from Gold Fund
IDBI Mutual Fund on Thursday said it expects to garner about R100 crore from its recently launched Gold Fund. The investment objective of the scheme is to generate returns that correspond closely to the returns generated by IDBI Gold Exchange Traded Fund (IDBI Gold ETF) that was launched last year, IDBI Asset Management Company MD & CEO Debasish Mallick said. The benchmark index for this open-ended fund is domestic price of gold, he said.
Shriram Transport Fin enters debt market
Shriram Transport Finance Company (STFC) on Thursday said that it has entered the debt capital market with a public issue of secured non-convertible debentures (NCD) of face value of R1,000 each. It aggregates up to R300 crore with an option to retain over-subscription up to R300 crore for issuance of additional NCDs aggregating to a total of up to R600 crore, company officials said. The issue will be open for subscription till August 10 with an option to close on such earlier date or extended date as may be decided at the discretion of the authorised committee of directors of the company subject to necessary approvals.