Don’t miss the latest developments in business and finance.

PGIM India MF launches retirement fund; StanChart offers 7.5 mn shares

Standard Chartered Bank is offering up to 7.5 million shares in Central Depository Services India (CDSL) in a placement

Standard Chartered
Photo: Bloomberg
BS ReporterBloomberg
2 min read Last Updated : Mar 26 2024 | 10:57 PM IST
PGIM India MF launches retirement fund 
 
PGIM India Mutual Fund on Tuesday launched the PGIM India Retirement Fund. The equity-oriented scheme will follow a multicap investment approach, ensuring a minimum 25 per cent exposure to each of the largecap, midcap, and smallcap segments of the market. The fund has a 5-year lock-in period. The fund house said the scheme aims to provide capital appreciation and income to investors in line with their retirement goals by investing in a mix of securities comprising equity, equity related instruments, REITs and InvITs, and fixed income securities. The investment in non-equity assets will be limited to 25 per cent of the portfolio. BS Reporter

ChrysCapital arm sells 2.9% in Mankind Pharma
 
Beige, an affiliate of private equity (PE) firm ChrysCapital, on Tuesday offloaded 11.6 million shares (2.9 per cent) stake in Mankind Pharma. The PE major shares in two equal tranches at Rs 2,125 and Rs 2,120 per share to mop up Rs 2,470 crore. Shares of Mankind rose 1.6 per cent to finish at Rs 2,248.8 on the BSE. Prior to the stake sale the ChrysCapital affiliate held a 2.99 per cent stake in Mankind, accor­ding to the company's December 2023 quarter shareholding data.  BS Reporter

StanChart offers 7.5 mn shares in CDSL 
 
Standard Chartered Bank is offering up to 7.5 million shares in Central Depository Services India (CDSL) in a placement, according to terms of the deal obtained by Bloomberg News. The floor price has been set at Rs 1,672 apiece, representing a discount of 6.5 per cent to the last close of Rs 1,788.9. Standard Chartered will no longer own a CDSL stake after the deal. JPMorgan is the sole broker on the transaction.  Bloomberg

Also Read

Topics :SIP Mutual fundsIndian stock marketsStanChartMankind Pharma

First Published: Mar 26 2024 | 10:57 PM IST

Next Story