Vikram Solar and Shreeji Shipping IPOs bag strong bumper booking

The ₹2,079 crore initial public offering (IPO) of Vikram Solar was subscribed 54.6 times on Thursday, the concluding day of the issue. The retail portion and non-institutional investor portion were subscribed 7.65 times and 50.90 times, respectively.  Institutional investors subscribed 142.79 times. The IPO of Shreeji Shipping was subscribed 58 times. The institutional investor portion was subscribed to 110 times, the wealthy investor portion by 73 times, and the retail investor portion by 22 times.  The ₹ 411 crore IPO was entirely a fresh issue. Similarly, the IPOs of Patel Retail and Gem Aromatic were subscribed 95.7 and 30.27 times, respectively.

 

 

SBI Mutual Fund launches Dynamic Asset Allocation Active FoF 

SBI Mutual Fund (MF) on Thursday announced the launch of its asset allocator fund of funds (FoF) — SBI Dynamic Asset Allocation Active FoF. The scheme will invest 35-65 per cent of its corpus in actively managed equity oriented schemes and 0-65 per cent debt MF schemes. The allocation towards equity and debt schemes will be adjusted based on market conditions.  “The scheme will provide investors a convenient one-fund solution combining multiple existing strategies through a mix of existing actively managed equity and debt-oriented funds,” said Nand Kishore, managing director and chief executive officer, SBI MF.