AUM of domestic passive funds tracking Nifty indices tops Rs 5-trn mark

Asset under management (AUM) of domestic passive funds tracking Nifty indices has crossed the Rs 5 trillion mark, the exchange said in a release.

Overall, AUM of the domestic passive fund industry has crossed Rs 7 trillion (nearly $90 billion) after logging an annualised growth of over 50 per cent since 2018. In FY23, the passive fund industry witnessed record inflows of Rs 1.55 trillion. “Nifty indices linked passive funds account for 75 per cent of equity & debt passive funds in India.

As of May 31, 2023, there are 251 passive funds tracking 101 unique Nifty indices,” said NSE Indices, the index tracking arm of Nifty in a release. 

PKH Ventures IPO opens Friday, price band set at Rs 140-148

Construction and hospitality firm PKH Ventures on Monday said it has fixed a price band of Rs 140-148 a share for its initial share sale, which will open for public subscription on June 30. The initial public offering (IPO) will conclude on July 4, the company announced. The public issue comprises a fresh issue of 1.82 crore equity shares and an offer for sale of 73.73 lakh shares by its promoter Pravin Kumar Agarwal.

(BS REPORTER)