Gammon Infra to offload 10-per cent stake to public
Mumbai: Gammon Infrastructure Projects, a part of construction firm Gammon India Ltd, will offload 20 per cent equity through an initial public offer (IPO) and a foreign convertibles issue.

The company said it would file its red herring prospectus for an IPO in the next 45 days. Gammon Infrastructure had earlier planned an IPO for 20 per cent stake sale. The company will now exercise the option of raising money through issue of foreign convertibles as well.

Gammon Infrastructure is presently valued at Rs280 crore and proposes to take the value to Rs1,000 crore, almost the same value of its holding company Gammon India.
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CRISIL assigns AAAf to long-terms FMPs of SBI Mutual
Mumbai: CRISIL has assigned 'AAAf' rating to nine long-terms FMP funds proposed to be launched under SBI Debt Fund Series by SBI Funds Management, the investment manager for SBI Mutual Funds.

CRISIL has also assigned ratings of 'P1+f' to 18 short-term FMPs under the same series. The ratings indicate that SBI Debt Fund Series' proposed portfolio holdings provide very strong protection against losses from credit default.

The ratings are not an opinion on SBI Funds Management's willingness or ability to make timely payments to investors, nor on the stability of the fund's net asset values, since these could vary with developments in the market.

FMPs are investment schemes floated as close-ended mutual funds, and have maturity periods ranging from a month to five years. They are passively-managed, fixed-income schemes: the fund manager locks into investments with maturities corresponding to the plan's maturity.
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Lotus MF's total AUM crosses Rs5,000-cr
Mumbai: Lotus India Mutual Fund's total assets under management (AUM) have crossed the Rs5,000-crore mark.

Lotus India AMC was set up in November 2006 when the company launched its first product after receiving market regulator SEBI's approval. The fund house achieved the Rs 5,000-crore mark today, it said in a press release.

Lotus India Asset Managment Company's AUM grew from Rs647.10 crore as on January 31, 2007 to Rs4,165.36 crore on June 30, registering a growth of 543 per cent, it said.

The company is promoted by banker Rana Talwar-headed Sabre Capital Worldwide and Singapore-based Temasek Holdings' subsdiary Fullerton Fund Management Group.
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