According to Richard Overton, managing director of the AMC, there would be a few more cheques trickling in, which might take the figures even higher.
The AMC is expected to commence its investments almost immediately.
We have already missed some earlier opportunities due to the delay in getting clearances. This is the best time to invest, Overton said.
The fund had extended its closing date from the originally scheduled date of August 31, to September 4, to enable it to garner the minimum corpus of Rs 50 crore required for open-ended funds as per Sebi's present guidelines for mutual funds. But that time it failed to do so.
Out of the current collections, the majority of funds has come from overseas as well as from FIIs.
The response from the retail segment has been poor, according to company sources. Also, the fund has roped in over the three lakh employees of the entire ITC group as well as all its shareholders who amount to a total of 3,50,000.
The exact contribution of each segment could not be known.