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The Securities and Exchange Board of India (SEBI) has proposed a platform called MITRA (Mutual Fund Investment Tracing and Retrieval Assistant) to help investors reconnect with their forgotten or unclaimed mutual fund investments. MITRA will assist individuals in tracing inactive or lost mutual fund folios, ensuring that no hard-earned money is left behind. This initiative is especially beneficial for families looking to retrieve investments of deceased loved ones. With MITRA, SEBI aims to simplify the recovery process, promote transparency, and empower investors to regain control over their wealth, fostering trust in mutual fund investments.
SEBI has introduced a new rule for Asset Management Companies (AMCs) to ensure the timely deployment of funds raised through New Fund Offers (NFOs). Under this directive, AMCs must allocate the collected funds within a strict 30-day timeframe. If they fail to do so, investors will have the freedom to withdraw their money from the scheme without facing any exit load charges. It provides investors with greater flexibility and safeguards against unnecessary delays in fund utilization.
Vishal Mega Mart debuted with a listing at ₹104, a premium of 33.4% over its issue price of ₹78. Sai Life Sciences followed suit, listing at ₹650, an 18.4% premium over its issue price of ₹549. Mobikwik listed at ₹442, with a 58.5% premium over its issue price of ₹279, reflecting strong investor confidence in the fintech company.
Ventive Hospitality‘s IPO saw a modest oversubscription of 0.75 times, steady interest in the hospitality sector. On the other hand, Mamata Machinery’s IPO was oversubscribed by an impressive 38.75 times, reflecting strong demand and confidence in the manufacturing space. Transrail Lighting also performed well, with its IPO oversubscribed by 5.41 times, demonstrating solid investor interest in infrastructure-related opportunities. These outcomes highlight how investor sentiment can vary widely across industries, shaped by market trends, growth potential, and sector-specific dynamics.
Mirae Asset Management has introduced a new investment opportunity with the launch of the Mirae Asset Nifty India New Age Consumption ETF FoF Growth Plan. This New Fund Offer (NFO) is designed to capture growth in emerging consumption trends in India, targeting sectors shaping the country’s modern consumer landscape. The fund offers a chance to diversify your portfolio while aligning with India’s evolving consumption story. Investors can subscribe to the NFO until December 26, 2024. This is a great option for those looking to tap into future-focused industries while staying invested in India’s long-term growth trajectory.
Kuvera is a free direct mutual fund investing platform. Unless otherwise stated data sourced from BSE, NSE and kuvera.
