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Kothari Fund raises Rs 525 crCHENNAI: Kothari Pioneer Mutual Fund said on Wednesday it had collected over Rs 525 crore ($120.55 million) i...

Kothari Fund raises Rs 525 cr
CHENNAI: Kothari Pioneer Mutual Fund said on Wednesday it had collected over Rs 525 crore ($120.55 million) in the initial public offering (IPO) of its new Internet-focussed Internet Opportunities Fund. "Kothari Pioneer’s Internet Opportunities Fund …has collected over Rs 525 crore during the initial issue from over 150,000 investors," the firm said in a statement.

The fund said it had already started investing in firms building on opportunities offered by the Internet. "The thrust presently is on infotech companies focusing onE-commerce, companies leveraging the Internet for strategic advantage and a few unlisted Internet companies as well," the statement quoted its fund manager, R Sukumar, as saying. Kothari said it manages assets worth about Rs 3000 crore for over 535,000 investors, making it one of the largest Indian private fund managers of equity funds.

Financial Tech launches Net.net
MUMBAI: Financial Technologies, a Mumbai-based software company, has become the first in the country to launch a product on the Windows 2000 platform for the securities industry. The product, Net.net, offers an end-to-end solution for e-brokering and net trading. Addressing a press conference jointly with Microsoft India, CEO Jignesh Shah said the internet trading product had been deployed at ICICI, ILFS and Growth Avenues, giving it majority market share. The product integrates the all the components in the trading system the client (institutional and retail investors), broker, stock exchange, clearing house, bank and the depository.

Rathi, Dina re-elected to BSE board
MUMBAI: The Bombay Stock Exchange (BSE) president Anand Rathi, vice president Dina Mehta and BSE member Niranjan Nanavati were today declared elected unopposed on the governing board of Bombay Stock Exchange for the period of three years from April 1, 2000 to March 31, 2003. The elections for the three vacancies at the governing board of BSE were due for this year following the expiry of term of three members of the governing board, namely Mehta, Rathi and Ramesh M Damani on March 31, 2000.

‘Why weren’t TVK leaders told it wasn’t right day for a big event’: Cong MP Jothimani

Political Pulse4 hr ago

A stampede at TVK founder Vijay's rally in Karur led to the death of 40 people and injuries to many. Congress's Karur MP Jothimani identifies overcrowding, poor planning, and the timing of the event as possible causes. She recommends setting clear guidelines for political gatherings and consulting all parties to prevent similar tragedies.

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