Trust Mutual Fund has announced the appointment of Mihir Vora as its new Chief Investment Officer (CIO) as part of its plans to expand its portfolio. Currently focusing on debt funds, the fund house is gearing up to launch equity-oriented products. Mihir Vora brings a wealth of experience, having previously served as Senior Director and CIO at Max Life Insurance. Over the years, he has held significant positions at Aditya Birla Sun Life MF, Abu Dhabi Investment Authority, HSBC MF, ABN AMRO MF, ICICI Prudential MF, and SBI MF. Trust MF announced an official press release, signaling its intent to strengthen its equity fund offerings under Vora’s leadership.
IRM Energy IPO Subscribed 4.36x by Day 2
City gas distribution company IRM Energy’s initial public offering (IPO) garnered strong interest, with a 4.36x subscription on Thursday by the second day of its Rs 545.40 crore share sale. According to NSE data, bids were received for 33,269,235 shares against an offer size of 7,624,800.
Key subscription highlights:
- Non-Institutional Investors (NIIs): Subscribed 9.08x
- Retail Individual Investors (RIIs): Subscribed 4.36x
- Qualified Institutional Buyers (QIBs): Subscribed 1.18x
The IPO, priced between Rs 480 and 505 per share, is a fresh issue offering up to 10.8 million equity shares.
Blue Jet Healthcare Targets Rs 840 Crore Through IPO
Blue Jet Healthcare, a pharmaceutical ingredient manufacturer, has set a price band of Rs 329-346 per share for its Rs 840 crore initial public offering (IPO). The IPO, an offer for sale (OFS) of 2.42 crore shares by promoters Akshay Bansarilal Arora and Shiven Akshay Arora, will open for bidding from October 25 to October 27.
- Anchor Book Date: October 23
- Proceeds: Rs 799 crore at the lower end and Rs 840.27 crore at the upper end of the price band
- Lot Size: Investors can bid for a minimum of 43 shares and multiples thereafter
Since the IPO consists entirely of an OFS, the company will not receive funds directly from the issue.