PruICICI plans Gold ETF
Mumbai: Prudential ICICI AMC has filed for its Prudential Gold Exchange Traded Fund (Gold ETF) with Securities and Exchange Board of India. The fund is an open-ended scheme, which will track the domestic price of gold through investments in physical gold.

Prudential ICICI AMC is the fourth mutual fund company to file for a gold ETF. Recently, SEBI gave the nod to UTI AMC and Benchmark AMC to start the first gold ETFs in the country. Kotak AMC's ETF is awaiting clearance.

The minimum application amount for the gold ETF is Rs5,000. The scheme will allow for redemptions only during the liquidity period at an applicable exit load.
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Morgan Stanley makes investment in Oberoi Constructions
Mumbai: Morgan Stanley Real Estate has made an investment of Rs675 crore in Oberoi Constructions. According to the company the investment represents a continuation of Morgan Stanley's strategy to provide growth capital to companies such as Oberoi Constructions who have differentiated development capabilities across all real estate classes.
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SEBI cancels BOI MF registration
Mumbai: SEBI has cancelled the certificate of registration of BOI Mutual Fund and has withdrawn the approval granted to the erstwhile BOI Asset Management Co Ltd to act as an asset management company.

The move follows a request made by BOI Mutual Fund.
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Akruti Nirman IPO subscribed 79 times
Mumbai: The initial public offering of Akruti Nirman was subscribed by 79.02 times on the BSE and NSE at 7.00 pm. Bids were received across the price band of Rs475-Rs540 per equity share. The company had offered 67 lakh equity shares to enter the capital markets through 100 per cent book building process.
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Sebi says more caution required in IPO pricing
Mumbai: Securities and Exchange Board of India (Sebi) Chairman M Damodaran says investment bankers should be more cautious in pricing initial public offerings (IPOs) to protect the interests of retail investors.

More than one fourth of the companies that floated IPOs in the last two years are now trading below their listing prices.

The primary market is slated to see as many as 150 issues targeted at mobilising a combined Rs45,000 crore, according to research company Prime Database.

The corresponding figure for last year was Rs24,432 crore.
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