Street signs: Anupam Rasayan GMP at 25%, ELSS investment, and more

On the way out

A number of successful initial public offerings and record-high assets under management have had most people optimistic about the mutual fund industry's prospects. Not everyone seems to share that bullish sentiment. More than one mutual fund are said to be on the block. Many haven't achieved the scale they were hoping for even amid the boom. The ones that are eyeing an exit are said to have under Rs 10,000 crore in assets.

Anupam Rasayan GMP at 25%

Shares of Anupam Rasayan are in demand in the unofficial grey market, with operators willing to pay a premium of 25 per cent over its initial public offering (IPO) price. According to sources, investors were enthused by the good listing premium, which speciality chemicals companies commanded in the last six months. The shares of the company are changing hands between Rs 690 and Rs 700. Anupam Rasayan manufactures speciality chemicals comprising products related to agrochemicals, personal-care and pharmaceuticals. The Rs 760-crore IPO comprises only fresh issuance, and the price band is Rs 553-555 per share.

MFs hopeful of inflows into ELSS

Typically, the last three months of the financial year are considered to be tax-saving season in India. But in January and February, equity-linked saving schemes (ELSS) offered by the mutual fund houses have seen net outflows of Rs 820 crore and Rs 847 crore, respectively. The equity markets near highs and relatively weak performance of the schemes for the three-year period have led to investors pulling the money out of such schemes. However, the fund industry is hopeful that for March, the segment would report some inflows as many investors rush to complete their tax planning towards the end of the financial year.