Companies de-list from CSE
Kolkata: The Calcutta Stock Exchange has informed members that a number of companies including GMR Industries, IG Petrochemicals, Greenply Industries, Balmer Lawrie & Co and Prime Textiles have voluntarily de-listed from the exchange.

These de-listings are under SEBI (De-listing of Securities) Guidelines, 2003, the exchange said.
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Deutsche Bank offers exchange-based futures business
Mumbai: Deutsche Bank has opened its exchange based futures business in India with its Deutsche Bank Global Exchange Services (GES) commencing operations in July. It began operations after Deutsche Equities India Pvt Ltd, the bank's subsidiary, received a licence from the National Stock Exchange.

According to a press release from the bank, the scheme will now provide international clients with direct execution of Indian index products and single stock futures in what it says is one of the fastest growing derivatives markets in the world.

According to Deutsche Bank officials, the bank also chose India as the first location to launch its exchange based futures business because it is an increasingly relevant market for global investors. They point out that the NSE now offers more single stock futures than any other exchange in the world and they expect growth in the NSE derivatives contracts to continue at around a rate of 50 per cent year-on-year.
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Fidelity launches fixed income business
Mumbai: Fidelity Fund Management Pvt Ltd has announced the launch of its fixed income business in India through the Fidelity Short Term Income Fund.

The Fund is an open-ended income scheme that aims to generate reasonable returns through a diversified portfolio of fixed income securities. The fund will invest 0-100 per cent in money markets and bonds. The new fund offer will be open from August 17 to 24.

The Fund will have an institutional and non-institutional plan without entry and exit loads and will have the Crisil Short Term Bond Index as its benchmark.

According to Fidelity International officials, in future the company would also launch cash products and long term products in the fixed income segment.

Meanwhile, with the launch of fixed income products in India, Fidelity will now cater to the needs of all core asset classes - equities, fixed income and cash.
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Franklin Templeton and Karnataka Bank in distribution pact
Mumbai: Franklin Templeton Investments has entered into an agreement with Karnataka Bank for distribution of its investment products. As per the agreement, Karnataka Bank will initially distribute the entire range of Franklin Templeton funds through its 100 branches, and this would later be expanded to the rest of the branches.

According to Karnataka Bank officials, the deal is expected to help the bank to diversify its income schemes given that it would earn commission income of 2.5-3.0 per cent. Currently, fee-based income contributes 8 per cent of the bank's total income and Karnataka Bank expects this tie-up to result in a marginal increase in its overall fee-based income.

Franklin Templeton is one of the largest fund houses in the country with over Rs21,649 crore of assets under management and an investor account of over 18 lakh. It has offices in 33 cities and collection centres in another 45 locations across the country.

Karnataka Bank, which intends to add 17 more branches next year, has a deposit base of Rs13,243 crore and advances worth Rs7791 crore. The bank is aiming for a business turnover of around Rs25,000 crore in the current fiscal.
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Piramal's Indiareit floats $160mn offshore fund
Mumbai: Indiareit, the India-focused real estate venture capital fund, promoted by Ajay Piramal, chairman, Piramal Enterprises, has announced the launch of its offshore fund. With a proposed corpus of $160 million, the offshore fund has said that it would invest in projects governed by the foreign direct investment (FDI) guidelines as applicable for real estate in India.

The offshore fund of Indiareit follows in the heels of the recently launched Rs350-crore domestic venture capital fund. The offshore fund has the investment support of 3i, Europe's leading private equity and venture capital company. 3i has committed itself to an investment of $40 million in the Indiareit Offshore Fund.

It may be mentioned that 3i is quoted on the LSE and on the FTSE 100.

The Indiareit Fund is a boutique real estate venture capital fund, promoted by Piramal Enterprises. The fund is registered under the SEBI (Venture Capital Funds) Regulations and has Indiareit Fund Advisors Pvt Ltd as its investment advisors.

Piramal Enterprises is a diversified Rs 3,500- crore Group with global footprints.
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Matrix Partners launch $150mn fund
New Delhi: Matrix Partners (India), a venture capital firm, has announced the launch of a $150-million fund through which it will invest in the Internet, mobile, financial service, media and entertainment sectors.

Avnish Bajaj, Founding Managing Director, Matrix Partners (India), said that the fund, will be channelised within seven-10 years, in partnership with Matrix Partners (US), and will help entrepreneurs build market-leading companies in the consumer services domain. Further, both Matrix (US) and Matrix Capital will assist promising Indian companies requiring more than Rs100 crore capital.

The firm will be investing between Rs2 crore and Rs50 crore in various companies, depending on their stage of development.

Matrix also has a hedge fund called `Matrix Capital', which till now has invested about $100 million in the Indian equity markets.
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