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Buy Back of Shares: e Clerx to buy back its shares at Rs 2850 per share

The shares of e-Clerx turned ex-dividend on September 16. The dividend announced was Rs1 per share. Dividends is not the only positive news for the shareholders of e-Clerx. The real positive news is the share buyback price declared at Rs 2850 per share. The company announced that it will buy back its shares at Rs2850 per share with aggregate amount not exceeding above Rs 303 crore. Thus, the buyback size of the issue is Rs303 crore. Kotak Mahindra Bank has acquired a 9.9 per cent stake in KFin Technologies by investing Rs 310 crore 

Kotak Mahindra Bank has acquired a 9.9 per cent stake in KFin Technologies by investing Rs 310 crore

Kotak Mahindra Bank Limited announced that it has agreed to make an equity investment in KFin Technologies, a leading investor and issuer servicing platform. It shall acquire, subject to necessary approvals, approximately 9.9 per cent stake in KFin by investing around Rs310 crore as a primary infusion in the Company. KFin Technologies Private Limited is the largest registrar and transfer agency and a market leader in the financial sector providing investor servicing. The company provides a wide array of financial technology solutions across a broad spectrum of asset classes spanning mutual funds, alternatives, insurance, and pension.

This investment is in line with Kotak Mahindra's stated strategy of making minority investments in businesses that are professionally managed and have deep client entrenchment. It is keen on the future growth prospects of the business and believes that an investment in KFin, with its significant franchise, can create long-term value for its stakeholders. With Kotak Mahindra Bank’s support bundled with the ongoing support of General Atlantic, an existing shareholder of KFin, the company is poised to achieve greater heights in its technology, business processes, leadership depth, and governance. Kotak Mahindra Bank Limited is an Indian banking & financial services company headquartered in Mumbai. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management.

Sachin Bansal-backed Navi Mutual Fund launches four new mutual fund schemes

Strike when the iron is hot seems to be an unwritten rule of the IPO market. As we have seen a flurry of IPOs in the last three months, now the same is turning out to be true for Mutual Fund Schemes. And Sachin Bansal-backed Navi Mutual Fund seems to have been following this adage to perfection.

Sachin Bansal-backed Navi Mutual Fund has filed draft papers for four more mutual fund schemes with the Securities and Exchange Board of India (SEBI). Earlier in August, it had filed 11 mutual fund schemes with SEBI. In the recently, filed four mutual funds scheme, three are Fund of Fund (FoF), while one is an index fund.

The index fund is NAVI Nifty Indian Manufacturing Index Fund. An open-ended equity scheme replicating/tracking Nifty India Manufacturing Index. The investment objective of the scheme is to achieve a return equivalent to the Nifty India Manufacturing index by investing in stocks of companies comprising the Nifty India Manufacturing Index, subject to tracking error. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved. The scheme does not assure or guarantee any returns.