RIB ISSUE MOPS UP ONLY $1.25 BN
Article Abstract:
The State Bank of India's (SBI) Resurgent India Bonds (RIBs) which are set to close on 17, August 1998, have been able to mobilise only about $1.25 billion till now. According to dealers, RIBs may get more applications on August 17 as the investors normally wait till last day before sending their applications. Senior officials from the Finance Ministry have indicated that they are satisfied if RIBs could mop up just $2 billion instead of anticipated $5 billion to $6 billion by the market. The ministry may come out with another issue next year, if the additional funds are required. (gs)
Comment:
Reports that its Resurgent India Bonds, which will close on 8/17/98, have mobilized only about $1.25 bil so far
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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US-64 SCHEME MOPS UP Rs3,105 CRORE
Article Abstract:
US-64, the flagship unit scheme of Unit Trust of India (UTI) has grown by 30 percent by raising Rs3,105 crore in July 1998 compared to Rs2,391 crore raised in July 1997. US-64 has 21 million unit holders and a total corpus of Rs22,000 crore and it accounts for one third of the entire revenue of UTI. UTI had recommended a dividend of 20 percent on US-64 in 1997-98 by which the unit holders got a yield of 14.28 percent for the year. (gs)
Comment:
Recommends dividend of 20% on US-64, its flagship unit scheme, in 1997-98 by which unit holders get yield of 14.28% for the year
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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Comment about this article or add new information about this topic:
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