NFO Alert: SBI Mutual Fund launches income plus arbitrage active FoF
SBI Mutual Fund has launched the SBI Income Plus Arbitrage Active FOF, an open-ended Fund of Fund investing in actively managed debt and arbitrage schemes. Aimed at delivering stable, tax-efficient returns, the scheme opens for subscription from April 23–30. With a flexible allocation strategy, it targets conservative investors, HNIs, and corporates seeking optimal post-tax returns over 2–3 years.
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Economic Times
6 days ago
- Economic Times
JSW Cement IPO: Company raises Rs 1,080 crore from anchor investors ahead of issue
JSW Cement secured Rs 1,080 crore from anchor investors before its IPO launch. The IPO opens on Thursday and closes on Monday. It includes a fresh issue and an offer for sale. Funds will support a new facility and debt repayment. The IPO price is Rs 139-147 per share. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads JSW Cement IPO Structure and Allocation Use of Proceeds JSW Cement IPO Key Dates Tired of too many ads? Remove Ads Financial Performance JSW Cement IPO Lead Managers Company Details JSW Cement, whose initial public offering (IPO) will open for subscription on Thursday, raised Rs 1,080 crore from 52 anchor investors on Wednesday. The company allotted over 7.3 crore shares at the upper price band of Rs 147 per equity of the total allocation, 44.45% shares have been allocated to 9 domestic mutual funds, which have applied through a total of 20 schemes. MFs paid Rs 480 crore to buy these 22% of the anchor quota was allocated to 6 funds of SBI Mutual Fund with SBI Multicap Fund accounting for lion's share at 10.19%. It is followed by SBI Flexicap Fund at 9.26%. Others include Tata Large Cap Fund, Motilal Oswal Large Cap Fund, Baroda BNP Paribas Small Cap, Bandhan Small Cap the foreign funds are Blackrock Emerging Frontiers Master Fund Limited, Nomura Funds Ireland, Government of Singapore and Morgan Stanley Investment Fund. JSW Cement IPO GMP today:The IPO of JSW Cement Limited is commanding a grey market premium (GMP) of Rs 5, down from Rs 19 on Monday, indicating a 3.40% Cement has announced the price band of Rs 139 to Rs 147 per equity share, with a face value of Rs 10. The Rs 3,600 crore IPO will open for public subscription on Thursday, August 7, and close on Monday, August 11. The IPO is trading at a grey market premium of Rs 20–21, suggesting a potential listing gain of around 13.61% over the issue price of Rs 147 per IPO comprises a fresh issue of equity shares worth Rs 1,600 crore and an offer for sale (OFS) of shares aggregating to Rs 2,000 crore. The public issue has been structured with up to 50% reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and at least 35% for retail the OFS, Apollo Management, through its affiliate AP Asia Opportunistic Holdings Pte Ltd, will sell shares worth Rs 931.80 crore, while Synergy Metals Investments Holding Ltd will offer shares valued at Rs 938.50 crore, and the State Bank of India (SBI) will divest shares totalling Rs 129.70 Metals is a subsidiary of a private equity fund founded in 2015 by former ArcelorMittal executive Sudhir to the draft documents, JSW Cement plans to allocate Rs 800 crore to partly fund a new integrated cement facility in Nagaur, Rajasthan, and Rs 520 crore for the repayment or prepayment of its existing borrowings. The remaining funds will be designated for general corporate JSW Cement had initially planned to raise Rs 4,000 crore—split equally between a fresh issue and an offer for sale (OFS). However, as per the latest Red Herring Prospectus (RHP), the size of the fresh issue has been reduced by Rs 400 basis of allotment is expected to be finalised on Tuesday, August 12. Refunds will be processed on Wednesday, August 13, and shares will be credited to demat accounts the same day. The stock is likely to debut on the BSE and NSE on Thursday, August Cement reported Rs 6,028 crore in revenue from operations in FY24, up from Rs 5,837 crore a year earlier. However, net profit fell to Rs 62 crore from Rs 104 crore in Financial, Axis Capital, Citigroup, and Kotak Investment Banking are the book-running lead managers for the Cement, a part of the JSW Group, manufactures eco-friendly cement with a focus on sustainability and innovation in the construction company operates seven plants across India, including one integrated unit, one clinker unit, and five grinding units. These facilities are located in Andhra Pradesh (Nandyal), Karnataka (Vijayanagar), Tamil Nadu (Salem), Maharashtra (Dolvi), West Bengal (Salboni), and Odisha (Jajpur), along with the majority-owned clinker unit of Shiva Cement in of 31 March 2025, JSW Cement had a total installed grinding capacity of 20.60 million metric tonnes per annum (MMTPA), distributed across regions as follows: 11.00 MMTPA in the South, 4.50 MMTPA in the West, and 5.10 MMTPA in the East.
Time of India
6 days ago
- Time of India
Paytm eyes insurance, wealth foray after maiden core profit
Academy Empower your mind, elevate your skills After reporting its maiden quarterly profit, Paytm is now planning to expand into insurance and other wealth solutions , founder and chief executive Vijay Shekhar Sharma wrote in a note to shareholders on digital payments company reported a net profit— its first from core operations —of Rs 123 crore for the April-June quarter, swinging from a loss of Rs 840 crore as it reduced costs and expanded its payments and merchant lending businesses. Operating revenue rose 28% year-on-year (YoY) to Rs 1,918 crore, led by an 18% growth in payment services revenue to Rs 1,044 crore and a doubling of financial services revenue to Rs 561 crore.'Beyond payments, we see massive opportunities in cross-selling financial services. Our merchant loan portfolio has delivered strong results for lending partners and is bringing financial inclusion to those who were underserved so far,' Sharma this year, Paytm launched a Rs 250 systematic investment plan (SIP) with SBI Mutual Fund . The company intends to expand into insurance and other wealth solutions, Sharma company is exploring opportunities in cross-selling financial services and international expansion, Sharma said.'Consumer and merchant payments in India remain a large and growing opportunity. 'The model is now becoming structurally viable with MDR (merchant discount rate) on select instruments and subscription revenues flowing across the ecosystem. These developments contribute to a sustainable business model,' he wrotePaytm is also building value-accretive services for merchants, the Paytm CEO said. 'These are products that extend our stack and unlock monetisation beyond transactions.''These solutions are already showing promise in India, and we're beginning to explore international opportunities where small businesses remain underserved. Our international expansion will be deliberate, with a long-term view and a 1,000-day commitment to meaningful results,' Sharma currently offers Unified Payments Interface (UPI) in certain countries, including the UAE, Singapore, France, Mauritius, Bhutan, and Nepal, where the digital payment mode is accepted.
Economic Times
04-08-2025
- Economic Times
NFO Update: SBI Mutual Fund launches Nifty 1D Rate Liquid ETF
SBI Mutual Fund has announced the launch of SBI NIFTY 1D Rate Liquid ETF – Growth, an open-ended Exchange Traded Fund replicating/tracking NIFTY 1D Rate Index with a relatively low-interest rate risk and relatively low credit risk. The new fund offer or NFO of the fund is open for subscription and will close on August 7. The fund will re-open for continuous sale and repurchase within five business days from the date of allotment. Also Read | Nifty slips into consolidation: What is the right strategy for mutual fund investors now? The investment objective of the scheme is to generate returns, before expenses, that correspond to the returns of the NIFTY 1D Rate Index, subject to tracking error. The scheme would primarily invest a minimum of 95% and a maximum of 100% of its assets in Tri-Party REPOs, Repo in Government Securities, Reverse Repos and any other similar overnight instruments as may be provided by RBI and approved by SEBI and up to 5% in cash and cash equivalents. The fund manager is Jignesh Shah. The fund will be benchmarked against NIFTY 1D Rate Index. The maximum total expense ratio (TER) permissible under Regulation 52 (6) (b) is upto 1%Currently, there are no plans under the Scheme. The scheme offers only growth option. The exit load is nil. The scheme will track Nifty 1 D Rate Index and will use a 'passive' or indexing approach to endeavour to achieve the scheme's investment objective. The fund manager's endeavor would be to rebalance the portfolio in order to mirror the index; however, there may be a short period where the constituents of the portfolio may differ from that of the asset allocation of the scheme. Also Read | Axis Mutual Fund message to investors after Viresh Joshi's arrest In case of any deviation from the asset allocation pattern, the portfolio shall be rebalanced by AMC within 7 days from the date of said deviationThe fund is suitable for investors seeking short term income solutions and want investment in securities covered by NIFTY 1D Rate index. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
