Financial Daily from THE HINDU group of publications
Friday, Jan 23, 2004
Financial Daily from THE HINDU group of publications Friday, Jan 23, 2004 |
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Markets
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Mutual Funds Kotak Mahindra MF mops up Rs 344 cr from initial offer Our Bureau
Kolkata , Jan. 22 KOTAK Mahindra MF has mobilised Rs 344 crore from the initial public offer of Kotak Global India, which opened for subscription on December 22. The IPO has drawn over 28,000 applications, with the average size of subscription at more than Rs 1 lakh. Retail participation in the IPO was high, according to a release. Kotak Global India is an open-ended equity fund, focused on internationally competitive Indian companies. The fund is the first of its kind and retail investors' interest in it could mark the start of a trend, said Mr C. Jayaram, Director of Kotak Mahindra Asset Management Co.
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