India Business News: Fundraise, IBFC, Mutual Funds: Rediff Moneynews
Jagdish Farshan raises Rs 43.5 Cr. Maharashtra to build IBFC in Nagpur. UTI MF launches two new passive funds. Stay updated with the latest business news.
Key Points
- Gujarat-based snacks brand Jagdish Farshan secured Rs 43.5 crore in funding led by Sharrp Ventures.
- Maharashtra announced plans to establish an International Business and Finance Centre (IBFC) in Nagpur across 1,710 acres.
- UTI Mutual Fund launched two new passive funds, the UTI BSE India Sector Leaders ETF and Index Fund.
Mumbai, Aug 31 (PTI) Gujarat-based snacks brand Jagdish Farshan on Monday announced a Rs 43.5-crore fundraise in a round led by Sharrp Ventures.
The capital raised by the 1938-established brand, which will be used for geographic capacity addition, distribution, technology and digital commerce, also saw participation from a few angel investors, as per a statement.
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Maharahstra to create International Business and Finance Centre in Nagpur
* Maharahstra on Monday announced that it will be creating an International Business and Finance Centre (IBFC) in Nagpur spread over 1,710 acres.
The Centre will offer integrated infrastructure and a complete business ecosystem for corporates, global capability centres, startups and financial institutions, Sanjay Meena, the metropolitan commissioner for Nagpur Metropolitan Region Development Authority, said.
The government will launch the centre at a real estate industry event later this week, its organiser Naredco said.
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UTI MF launches two new passive funds
* UTI Mutual Fund (UTI MF) on Monday announced the launch of two new passive funds — UTI BSE India Sector Leaders Exchange Traded Fund and UTI BSE India Sector Leaders Index Fund.
The new fund offer for both funds is open from Monday until September 11, according to a statement.
Source: money.rediff.com