Reliance MF is top pvt mutual fund
Mumbai: Reliance Mutual Fund is now the country's largest private sector mutual fund house, with Assets Under Management (AUM) jumping to Rs36,927.92 crore in December 2006.

Reliance is followed by Prudential ICICI MF with AUM at Rs33,304.57 crore. UTI MF retained its leading position across both public and private sector funds in December with the highest AUM of Rs38,108.50 crore.

The total AUM of all 30 mutual funds stood at Rs3,23,601.79 crore for December, marginally down from Rs3,40,150.18 crore in November.

After including the Fund of Funds, the total AUM stood at Rs3,25,896.12 crore for December.

Pru ICICI has a total AUM of Rs33,345.19 crore in December, including the Fund of Funds. HDFC Mutual Fund was at the fourth rank in terms of AUM's at Rs29,635.28 crore, followed by Franklin Templeton MF at Rs23,403.15 crore.
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Spice Telecom plans Rs600 crore IPO
Bangalore: The Rs1,000 crore Spice Telecom plans to go public during March-April 2007. The firm, which operates mobile services in Karnataka and Punjab, is expected to raise around Rs600 crore by offloading 15-20 pc.

Telecom Malaysia, which holds 49 pc stake in the company, paid around Rs800 crore when it acquired the stake during early 2006, valuing this firm at around Rs1,600 crore.

Spice Telecom has around 2.5 million users and has a debt of close to Rs1,200 crore.

The company plans to use the fresh funds for starting mobile services in new circles and start national long distance and international long distance services with the backing of Telecom Malaysia.
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DLF plans Rs13,500 crore IPO
New Delhi: DLF Ltd has filed a fresh draft to raise around Rs13,500 crore through an IPO, which is around the same amount the company planned to raise last May before it cancelled its plans over a row with minority shareholders over share allotment.

Though it has reduced the issue size, DLF's valuation has gone up on account of a substantially larger land bank and a considerable increase in net profits.

The issue size, which constituted 11.9 per cent of the fully diluted post-issue capital in the previous filing, has now been reduced to 10.27 per cent. Going by estimates, the share price will be in the range of Rs825.

Against the 202 million equity shares of Rs2 each that DLF had offered previously, the company is now offering 175 million, with a greenshoe option. The reduction in the number of shares on offer is on account of DLF promoter KP Singh (India's fifth richest billionaire) and his family not selling any shares held by them.

Sources close to the development said DLF could expect to raise around Rs13,500 crore from fewer shares as it had "grown as a company and its valuation had gone up.

Two top investment banks, Enam Financial Services and JM-Morgan Stanley, have backed out from DLF's IPO amid speculation that the bankers had differences over valuation of the real estate company.

Lehman Brothers and Deutsche Equities India have replaced the two as the book-running lead managers, as per the revised prospectus filed with the Securities and Exchange Board of India.
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