ICICI Pru MF declares dividend for its 18 months plan

ICICI Prudential Mutual Fund has declared dividend in the dividend option of ICICI Prudential Fixed Maturity Plan-Series 36-Eighteen Months Plan B. The record date for the dividend is January 13, 2009. The fund house has decided to distribute 100% distributable surplus as dividend on record date.
The scheme as on December 31, 2008 recorded an NAV of Rs 10.1588 per unit under retail dividend option.
ICICI Prudential Fixed Maturity Plan-Series 36- Eighteen Months Plan B is a close-ended debt scheme with an objective to generate regular returns by investing in a portfolio of fixed income securities/debt instruments normally maturing inline with the time profile of the plan.

HDFC MF declares dividend for its 90 days plan

HDFC Mutual Fund has announced January 13, 2009 as the record date for declaration of dividend under dividend option of HDFC Fixed Maturity Plan -90D October 2008 (1), on face value of Rs 10 per unit. The fund house has decided to distribute 100% of surplus available under its both retail and wholesale plans as on record date. The NAV as on January 6, 2009 under retail plan was Rs. 10.2759 per unit while Rs 10.2781 per unit for wholesale plan.
HDFC Fixed Maturity Plan -90D October 2008 (1) a close-ended income scheme with an investment objective to seek to generate regular income through investments in debt/ money market instruments and government securities.

SBI MF declares dividend for 13 Months debt fund

SBI Mutual Fund has declared dividend under dividend option of SBI Debt Fund Series-13 Months -6 for both retail and institutional plans of the fund. The record date for the same is January 13, 2009.
The quantum of dividend will be 100% of the distributable surplus of the scheme as on the record date on the face value of Rs 10 per unit.
The NAV of the scheme as on 31 December 2008, under retail and institutional plan was at Rs 10.4381 and Rs 10.4276 per unit, respectively.
SBI Debt Fund Series-13 Months -6, a close-ended debt scheme with an investment objective to provide regular income along with the liquidity and returns to the investors through investments in a portfolio comprising debt instruments such as government securities, AAA/AA+ bonds and money market instruments.

Great Eastern Energy files DRHP for IPO

Great Eastern Energy Corporation has recently filed the draft red herring prospectus (DRHP) with Sebi for an IPO of 9.13 crore equity shares of Re 1 each for cash at a price to be determined through a 100% book-building process. The equity shares would then be listed on Bombay Stock Exchange and National Stock Exchange of India. The book running lead managers to the Issue are Enam, ABN AMRO Asia Equities (India) and SBI Capital Markets. As per the company's release, the issue would constitute approximately 15.45% of the fully diluted post issue paid up capital of the company. Further its GDRs are also listed on the Alternative Investment Market of the London Stock Exchange. The company is engaged in exploration, development, production, distribution and sale of natural gas from coal seams, commonly known as CBM. It produces CBM from its Block in Raniganj, West Bengal that spans an aggregate area of 210 square kilometers and has an estimated 1.92 tcf of gas-in-place (according to a report issued by Netherland, Sewell & Associates, Inc. on June 1, 2007). After the completion of its pipelines, the company believes that it will be a fully vertically-integrated CBM company capable of exploring, producing, distributing and selling natural gas to end users through an integrated network consisting of drilling, production, compression, transportation and logistics services. To bring the plan into reality, the company has already signed a franchisee agreement for supply and retail of CBM-based CNG through Indian Oil Corporation's petrol pumps in Asansol, Durgapur, Raniganj and other cities across the state of West Bengal.

SBI Life Insurance to raise Rs 600 cr through an IPO

SBI Life Insurance Company will raise Rs 600 crore through an initial public offering (IPO) at the end of 2009. "We will be ready by mid-2009 for the issue," said managing director and chief executive officer US Roy at a conference on Tuesday. The certifications and procedures involved for the IPO are already in progress, he said.

Franklin Templeton MF depicts dates of transaction window in 2009

Franklin Templeton mutual fund has announced that the transaction window of Templeton Quarterly Interval Plan will open on the following dates and will remain open for 1 business day for the calendar year 2009. The dates of transaction windows of Templeton Quarterly Interval Plan-A will be opened on 24 February 2009 as well as 26 May 2009, 25 August 2009, and 24 November 2009.
On the other hand, the Templeton Quarterly Interval Plan-B will open for transaction for 1 day on dates of 18 March 2009 as well as 17 June 2009, 16 September 2009, and 16 December 2009. In line with this, Templeton Quarterly Interval Plan-C will be opened as transaction window on 28 January 2009 as well as 29 April 2009, 29 July 2009, and 28 October 2009.
On the top of this, if the specified date of opening transaction window falls on a non-business day, then on the following business day, transaction window will open. Accordingly, the date of opening of subsequent transaction windows may also revise.

Shariah Compliant Islamic Fund gets approval from Sebi

Taurus Parsoli Ethical Fund, five-year close-ended equity oriented scheme, which is the India's first Shari'ah-Compliant mutual fund got nod from the SEBI. Taurus in October 2007 had filed the offer document with Sebi for approval. However, the fund house plans to launch after Muharram or in April. The offer price is Rs 10 per unit.
Taurus Parsoli Ethical Fund is a closed-ended Equity oriented Scheme with automatic conversion into an open ended scheme after 5 years from the date of allotment. The scheme offers two options viz. growth and dividend option. The minimum amount of application of the scheme is Rs 5000 and thereafter in multiples of Rs 1000. The objective of the scheme is to provide capital appreciation along with the income distribution to unit holders through investment in a diversified portfolio of equities, which are Shari'ah compliant. Shari'ah compliance: The scheme only invest in those listed securities, which are shari'ah compliant, and as approved by shari'ah Board.

Mutual funds step up buying

On 5 January 2009, mutual funds (MFs) purchased shares worth a net Rs 185.80 crore, higher than Rs 72.20 crore on 2 January 2009. MFs' net inflow on 5 January 2009 of Rs 185.80 crore was a result of gross purchases Rs 723 crore and gross sales Rs 537.20 crore. The BSE Sensex surged 317.38 points, or 3.19%, to 10,275.60 on that day. MFs were net buyers of shares worth Rs 303.30 crore in this month, till 5 January 2009.