Reliance, IPCL merger swap at 1:5
Mumbai: The board of directors of Reliance Industries has approved a proposal to merge IPCL with the company with the swap ratio of 1:5 i.e one share of Reliance for five shares of IPCL.

The share capital of Reliance Industries will go up to Rs1,453.60 crore post-merger from Rs1,393.50 crore.
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UTI to float core fund with a European bank
Mumbai: UTI Asset Management Company is forging a tie-up with a European bank for launching an offshore fund dedicated to investments in the domestic infrastructure stocks. The corpus of the fund will be about $300 million.

This will be UTI AMC's second infrastructure fund and comes after the close of its first infrastructure fund it launched in tie-up with Australia's AMP in 1999. The fund had given a compounded annual growth rate (CAGR) of 35 per cent in dollar terms.

UTI AMC, through its subsidiary UTI International has five offshore funds, which also include India fund, India IT fund and India Pharma fund.
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