Stanchart, ILFS to raise $1bn from infrastructure private equity (PE) fund
Standard Chartered and IL&FS Investment Managers (IIML) are close to signing an agreement to raise a $1 billion India-focused infrastructure private equity (PE) fund.

The two companies are expected to finalise a joint venture to manage the fund which will be announced by end-July.

This joint effort is the second in succession for IIML after it recently signed a joint venture pact with Abu Dhabi Investment Company (ADIC), promoted by the government of Abu Dhabi, to raise a $1 billion PE fund. The fund will invest in infrastructure assets in West Asia and North Africa.

ADIC and Infrastructure Leasing & Financial Services are likely to commit around $50 million to the proposed new Fund. The investment manager of the fund would be a 50:50 joint venture.
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Credit Suisse Singapore, Macquarie Bank invest in Sical Logistics
Chennai: Credit Suisse Singapore and Macquarie Bank have picked up close to 5 per cent each, in the Chennai-based Sical Logistics, the company informed the stock exchanges today. The shares were issued to the two financiers on preferential basis at a price of Rs240 a share. Sical would therefore get Rs98.40 crore from the issue.
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Sundaram BNP Paribas launches Global Advantage fund
Mumbai: Sundaram BNP Paribas Mutual has launched Sundaram BNP Paribas Global Advantage fund. The fund will invest up to 100 per cent of its funds in global assets.

It would be an open-ended Fund of Funds structure investing in mutual fund units and exchange-traded funds (ETF's) tracking the emerging markets, commodities, and real estate spaces. The new fund offer opens on July 16 and closes on July 31.

Sundaram BNP Paribas Global Advantage may pursue a diversified investment style in terms of country choice, fund selection, sector selection, stock selection, and buy or sell decisions.

The US, Mexico, Hungary, Poland, Russia, Turkey, Argentina, Brazil, Chile, Venezuela, China, Malaysia, Indonesia, Thailand, South Africa, France and UK are some countries, including India, where Sundaram BNP Paribas Global Advantage may look at investing in the mutual funds and exchange traded funds.
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JM Mutual launches Contra Fund
Mumbai: JM Financial Mutual Fund has launched JM Contra Fund, which aims to provide capital appreciation by following the contrarian style of investing.

The fund will buy into fundamentally sound stocks that have been overlooked by the market and wait for the market to give these stocks their real value in due course of time.

The fund is an open-ended equity oriented fund. The new fund offer opens on July 16 and closes on August 14. The minimum application amount will be Rs5,000 and the fund will provide the dividend and the growth option.

The scheme has been benchmarked against the BSE 500 index.

The fund will focus on high potential under owned sectors. It will also play on the relative attractiveness of mid-caps and large- caps. The fund will go long on certain stocks and apply the shorting mechanism for other stocks.
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IVR Prime IPO price band fixed at Rs510-600 per share
Mumbai: IVR Prime Urban Developers, a subsidiary of IVRCL Infrastructure and Projects, will tap the primary market with an initial public offering of 1,41,50,000 equity shares of Rs10 each in a price band between Rs510 and Rs600 per share. The 100 per cent book building issue will be open for four days from July 23.

Of the total issue, the company has reserved 1.50 lakh equity shares for its employees. The issue, which constitutes 22.06 per cent of the fully diluted paid-up capital of the company, will raise up to Rs849 crore at the upper band and Rs721 crore at the lower end.

IVR Prime focuses on integrated townships, residential developments including affordable homes, and commercial projects such as hotels, retail malls and IT Parks.
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Zylog's IPO to raise Rs126 cr
Mumbai: Global IT solutions provider Zylog Systems plans to enter the capital markets to raise Rs 126 crore at the upper end of the price band of Rs330-350 per equity share.

It is offering 36 lakh equity shares with a face value of Rs10 per share. The issue will constitute 21.89 per cent of the fully diluted post issue paid-up equity capital of the company. Sixty per cent of the net issue to the public will be allocated on a proportionate basis to the qualified institutional buyers (QIBs), 5 per cent of the QIB portion will be allocated on a proportionate basis to mutual funds only. Up to 10 per cent of the net issue to the public will be allocated on a proportionate basis to non-institutional bidders while retail bidders will be entitled to 30 per cent of the net issue. One-lakh equity shares will be allocated to eligible employees.
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