GIC Mutual Fund to be restructured
GIC Mutual Fund has set up a committee of directors to finalise a consultant who will have the mandate of restructuring the entire fund. Talking to reporters in Mumbai on Friday, GICMF chief executive AP Prabhu said the consultant, who will be appointed by December next year, will also choose a successor to him. Prabhu has been granted extension to continue as chief executive upto June 2000.GDR index down 0.20%
The Skindia GDR index declined marginally by 0.20 per cent from 935.74 points to 933.84 points on November 18. The Skindia GDR index premium decreased by 7.31 per cent from 32.18 per cent to 29.83 per cent while the Skindia GDR index P/E ratio rose by 2.33 per cent to 71.19 from 69.57, according to a Skindia Finance release. There were 6 gainers, 28 losers and 32 unchanged as against the five gainers, 21 losers and 40 unchanged on November 17.
TV to tap primary market
Television Eighteen India Ltd (TV18) is entering the primary market with a public issue to raise Rs 53 crore next month. The fresh issue of 29.36 lakh shares will be offered at a price of Rs 180 per share. TV18 managing director Raghav Bahl told reporters ``Funds raised from the issue will be used to repay high cost debt, investment in infrastructure in the joint venture company cnbc india Ltd and for setting up a business portal.''
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