FT MF elevates Rengaraju to CIO; Sebi approves IPOs of five companies

FT MF elevates Janakiraman Rengaraju to CIO
 

Franklin Templeton Mutual Fund has elevated Janakiraman Rengaraju to the position of Chief Investment Officer (CIO), Emerging Market Equities – India. He will assume the new role on December 1, 2023. Currently, he is the Deputy CIO & Senior Portfolio Manager at the fund house. Rengaraju replaces Anand Radhakrishnan, who will be leaving the fund house in January 2024 to pursue other opportunities. “In his new role, Janakiraman will work closely with Avinash Satwalekar, President, Franklin Templeton – India to further strengthen our equity franchise in India,” the fund house said in a release.

Samco MF launches dynamic asset allocation fund
 

 

Samco Mutual Fund on Tuesday launched its dynamic asset allocation fund, a hybrid fund which will invest in both equity and debt. The fund house said the scheme is designed to provide a blend of stability, growth and downside protection to investors by making timely changes to the proportion of equity and debt in the portfolio. The fund will qualify for equity taxation as it plans to maintain a minimum 65 per cent equity exposure through arbitrage.

Markets regulator approves IPOs of five companies

The Securities and Exchange Board of India (Sebi) has issued final observations on initial public offering (IPO) documents of five companies. These include Jana Small Finance Bank, Shiva Pharmachem, India Shelter Finance Corporation, Onest, and DOMS Industries. These companies will now be able to launch their share sales. Shiva Pharma­chem’s IPO will entirely be an offer for sale (OFS) of up to Rs 900 crore by the promoter group. India Shelter Finance’s Rs 1,800-crore IPO will be a mix of fresh and secondary share sale. Jana SFB aims to raise around Rs 575 crore by issuing fresh shares. Its IPO also consists of a secondary share sale of 4 million shares. FMCG firm Onest comprises a fresh issue of Rs 77 crore.