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StanChart MF launches maiden equity scheme
Mumbai: The Standard Chartered Mutual Fund has announced the launch of its maiiden fund, the 'Standard Chartered Classic Equity Fund'. Uptill now the fund was managing debt schemes, with assets over of Rs8,000 crore.

The new Classic Equity fund is a diversified fund which will open for public subscription on June 27 and close on July 14.

Fund officials said that by not committing to any particular sector or theme, they will be able to ensure that it keeps generating consistent returns over a long period of time.
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$60 mn FCCB issue from Ballarpur Industries
New Delhi: Ballarpur Industries Ltd (BILT) has said that it has launched a $60-million foreign currency convertible bond offering, which are expected to be listed on the Singapore Stock Exchange. The bondholders will have the option of converting them to equity shares.

BILT said in a statement that the offering comprises zero coupon premium redemption bonds aggregating to $60 million, convertible at Rs180 a share, which is 52.47 per cent premium to the stock price of Rs118.05 on the NSE on June 17.

The bonds have a maturity of five years, with a yield to maturity set at 6.3 per cent.

The statement said that proceeds from the issue would be used for capital expenditure and repayment of existing FCCBs.
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Indo Asian Fusegear to re-list on BSE
New Delhi: Indo Asian Fusegear Ltd said on Monday that the equity shares of the merged entity, which has been formed by merging Indo Asian with Indo Kopp Ltd - are to be re-listed on the BSE.

It said in a statement that an application has been submitted to the BSE for listing the shares of the merged entity and it expects to receive the listing permission shortly.
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