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Finally, Infrastructure Development Finance Co Ltd (IDFC) has been announced as the winner for adopting Standard Chartered’s mutual fund business in India. In an all-cash deal, IDFC will pay Rs 830 crore ($205 million) to get hold of the asset management business of Standard Chartered. This amounts to 5.67% of the total assets under management of Rs 14,141 crore of StanChart’s AMC at the end of February 2008. The deal follows the RBI’s rejection of Swiss banking major UBS AG’s last year’s bid to purchase StanChart’s MF business for around Rs 516 crore, which was 4% of the total AUM of StanChart MF at that time. The UBS deal was terminated in January 2008. Jaspal Bindra, chief executive officer, Asia, Standard Chartered said, “IDFC is a well respected financial services company and we are delighted to have reached an agreement with them for the sale of this business. Standard Chartered will remain a distributor of asset management products in India. India is a key market and delivered

The Biggie Reliance Power IPO was subscribed 72 times and had received nearly 31 lakh applications which is a new record for most applications received. But when Reliance Power shares listed on 11th February the scenario changed and the market started coming down making Reliance Power shares plunging 17.22% below the issue price of Rs.450. Making most of the investors losing millions of money with no hope to get the invested amount with a good return. It was a black Monday as many investors had taken loan from banks to invest in Reliance Power IPO and got stucked in between of the falling market situation. But on Sunday 24th February, Anil Ambani gave up Rs 5,000 crore ($1.2 billion) of his personal wealth to enable Reliance Power shareholders to make up for their losses caused by bad listing of the stock. And announced a bonus plan for investors, where investor will get 3 shares on his each 5 owned shares. Which will bring the cost of Reliance Power shares down to Rs 269 each for reta

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Today Indian economy is showing the growth graph upwards with many investment opportunities for a normal person. One of this kind of investment is investing in Mutual Funds. Indian stock market has reached to a new height giving the investors a good option to make money. Investing in mutual fund gives one a vast options to select different mutual funds from different companies and fields. There are many fields to select from, for example one can select mutual funds from different sectors such as tax saver fund, opportunity fund, log term benefit term, real estate fund, etc. But investor should give time to invested funds, mutual fund investment is not like stocks where you buy and sell the stocks immediately, in case of mutual funds you need to give some time so that when you sell the fund you get a good returns.