Franklin Templeton launches high growth companies fund
Mumbai: Franklin Templeton Investments (FTI) India has launched a high growth companies fund. Fund officials said the 'Franklin India High Growth Companies' Fund will be an open-ended diversified equity fund.

The fund would invest in Indian companies and sectors with high growth rates and will invest between to 70-100 per cent of the fund amount in equity. The new fund opens on May 31 and closes on June 29.

Franklin with assets under management worth Rs24,500 crore has 58 per cent equity mix in its portfolio as against industry average of 37 per cent.

The California-based company globally manages around $ 601.1 billion of assets.
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DLF IPO targets Rs 9,625 cr mop up
Mumbai: DLF is targeting to raise between Rs8,750 crore and Rs9,625 crore through its initial public offering of 1.75 crore equity shares. The price band has been fixed between Rs500 and Rs550 per share of face value of Rs2.

The issue, through a 100 per-cent book building process, opens on June 11 and closes on June 14. The floor price of the band is 250 times the face value and the cap price 275 times. The issue will constitute 10.26 per cent of the fully diluted post-issue capital of the company. The shares will be listed on the NSE and the BSE.

The company has not opted for grading of the issue.

One lakh shares have been reserved for company employees. Sixty per cent of the net issue will be allocated on a proportionate basis to qualified institutional buyers, of which five per cent will be exclusively for mutual funds.

Not less than 10 per cent of the net issue will be available for non-institutional bidders and not less than 30 per cent will be for allocation on a proportionate basis to retail individual investors.

Retail investors can bid on payment of Rs150 per share of which Re1 will be credited to face value and Rs149 towards premium on application. The balance amount will be payable on due date. QIB bidders will have to pay 10 per cent of the bid amount and the balance before allotment.
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S&P starts research service for mid and small-cap stocks
Mumbai: Standard & Poor's has started the Corporate Equity Research Service in Hong Kong and the rest of Asia, in response to a growing market need for investment research on small-to-middle cap companies.

Under the service, listed companies may appoint Standard & Poor's Equity Research, which will provide quality and detailed third-party research and valuations on their stocks. This can be distributed to the investors through Standard & Poor's network and distribution channels.

Officials said there was a shortage of coverage of small-to-middle cap companies in the research market due to the shifting focus of sell-side firms, which are increasingly concentrating on larger companies. Yet in order to make more informed investment decisions, investors need high quality research analysis on all targeted stocks, including small-to-middle cap companies.

Standard & Poor's Corporate Equity Research service is aimed at enhancing transparency of small - middle-cap stocks and consequently increasing their market liquidity.

When a company subscribes to the service for the first time, Standard & Poor's will provide investors with an Initiation Report covering company description, management and shareholders' profile, corporate governance, business and strategy, SWOT analysis, industry overview and outlook, financial analysis, earnings quality analysis and earnings forecast and valuation.

Investors will receive ongoing coverage through an Update Report, which consists of three short and one long update per year.
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Archidply to float IPO
Hyderabad: Archidply Industries, a plywood manufacturing company, is planning to float a public issue this financial year that will partly fund the company's upcoming manufacturing facility near Bangalore. This would be the fourth manufacturing facility for the company. It has such facilities in Mysore, Uttaranchal and Assam. The company is likely to invest Rs50 crore on the new facility.
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F&O contracts on Nifty Junior, CNX 100
Mumbai: National Stock Exchange of India Ltd (NSE) has introduced Futures and Options contracts in CNX Nifty Junior and CNX 100 indices for trading in F&O segment wef June 1.

The circular on NSE said, "No transaction charge will be levied on turnover of above Rs10 crore per trading member per day for trades done in Nifty Junior and in CNX 100 in the Futures sub-segment." Also, no transaction charge will be levied on trades done in Nifty Junior and CNX 100 in the Options sub-segment.

The exemptions will continue till September 30 in order to encourage active participation during the introduction phase.
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