Geojit Financial to open all-women's branch in Mumbai
Mumbai: Geojit Financial Services is opening an all-women's branch in Mumbai. This will be the first all-women's branch in Mumbai and the second in the country, after Geojit's similar branch in Kochi according to a press release from the company.

The branch, designed for women investors is located at Vile Parle and managed by an all-women team. The branch will be inaugurated by Ms Shikha Sharma, managing director and CEO of ICICI Prudential Life Insurance Company.
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New schemes from MFs
Mumbai: Franklin Templeton has launched the close-ended `Franklin Templeton Fixed Tenure Fund' that will invest at least 70 per cent in debt instruments and the rest in equities. The objective is to provide steady returns and capital appreciation through equity exposure.

The offer period is between January 12 and February 10. The allotment date is March 3. The minimum investment is Rs10,000.

HDFC Mutual has launched close-end fund, HDFC Long-Term Equity with a tenure of five years. It will be converted into an open-end fund at the time of maturity. The new fund offer, which opened on December 30, closes on January 27.

The fund will invest in stocks of companies that will deliver returns over the long term. The minimum investment is Rs5,000. The fund offers Dividend and Growth options.

Franklin Templeton Investments has announced a dividend of Rs0.0351 per unit and Rs0.0877 per unit for the monthly and quarterly options, respectively of Templeton India Income Builder Account. A dividend of Rs0.0702 per unit has been announced for Templeton India Income Fund.

UTI Mutual will launch the Leadership Equity Fund and plans to mobilise about Rs1,000 crore through the fund. The new fund offer is open between January 9 and 30. The fund will be available for sale and repurchase on an ongoing basis from February 28. It will invest in stocks of companies that are leaders in various industries.

ING Vysya Mutual has launched `Mahilanivesh,' positioned as a special investment solutions targeted at women. Stripped of jargon, it is a systematic investment plan aimed at women investors. The minimum investment in the fund is set at Rs12,000. This will be invested in ING Vysya Floating Rate Fund initially, and later transferred in equal installments spread over a year to ING Vysya Dividend Yield Fund.
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RBI bars Temasek from raising stake in ICICI Bank
Mumbai: The Reserve Bank of India (RBI) has barred Temasek Holdings — the investment arm of the Singapore government — from further raising its stake in ICICI Bank, the country's largest private sector bank.

The banking regulator is of the view that Temasek and other investors associated with the Singapore government, like Government of Singapore Investment Corporation (GIC) and Monetary Authority of Singapore are all 'related entities.' This is after the India-Singapore treaty signed last year states that Temasek and GIC "operate independently and do not act in concert."

According to RBI norms, the combined holding of an investor, and entities related to it, in a private bank should not exceed 10 per cent.
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US hedge fund to invest Rs.200-cr in Indiabulls
Mumbai: The San Francisco-headquartered Farallon Capital, among the largest hedge funds in the world, is acquiring a 33 per cent stake in Indiabulls Housing Finance for Rs112.5 crore. The newly formed company will spearhead the brokerage and consumer finance group Indiabulls' entry into mortgages.

Farallon and its affiliates will invest over Rs200 crore in equity capital in two Indiabulls subsidiary companies, Indiabulls Housing Finance and Indiabulls Credit Services, a consumer finance company where Farallon already has a 33 per cent stake.

Significantly, Farallon owns a majority stake in the real estate arm of Indiabulls that bought lands auctioned by NTC. Besides home loans, the new housing finance company will offer loan against commercial properties and finance plots.
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UK Funds to buy 23 per cent in Saurashtra Cement
Mumbai: Asian Debt Management (ADM), the UK-based Toro Managers and Brescon Advisory will buy up to 23 per cent equity in Saurashtra Cement (SCL) for Rs105 crore through a preferential allotment of shares.

Post-issue, these funds will hold 23 per cent in Saurashtra Cement, sources said.

Sources said SCL would use these funds to prepay the debt to FIs and banks. Last year, ADM Capital had invested US$90mn in India Cements.

Banks and FIs now hold 33.88 per cent stake in Saurashtra Cement while Rajkot Nagarik Sahakari Bank alone holds 31 per cent stake. The promoters' holding is over 30 per cent while the public holds around 9 per cent stake.
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