Pvt Sector NPS Subscribers can Invest in AIFs, REITs

NEW DELHI: Regulator PFRDA has created a separate asset class under which private sector National Pension System (NPS) sub scribers can invest up to 5% in AIFs and REITs.The new class is in addition to the existing three categories -equity, corporate bond and government debt. With creation of a separate class, private sector subscribers can now nvest up to 5% of funds in commercial mortgage-based securities or residential mortgaged based securities and units issued by Real Estate Investment Trusts (REITs), and asset backed securities regulated by SEBI. They can also invest in units issued by Infrastructure Investment Trusts and Alternative Investment Funds (AIF).

The Economics Times New Delhi,07th November 2016

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Credit card spending growth declines on RBI gaze, stress build-up

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Brigade Hotel Ventures files draft papers with Sebi for Rs 900 crore IPO

Brigade Hotel Ventures Ltd, owner and developer of hotels in South India, has filed draft papers with capital markets regulator Sebi to raise Rs 900 crore through an initial public offering (IPO).The proposed IPO is entirely a fresh issue of equity shares with no Offer-for-Sale (OFS) component, according to the draft red herring prospectus (DRHP).Proceeds from the issue to the tune of Rs 481 crore will go towards payment of debt, Rs 412 crore will be allocated to the company and Rs 69 crore to its material subsidiary, SRP Prosperita Hotel Ventures Ltd.Additionally, Rs 107.52 crore will be used to purchase an undivided share of land from the Promoter, BEL, and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes.The company may raise up to Rs 180 crore through a Pre-IPO Placement. If the placement is undertaken, the issue size will be reduced.Brigade Hotel Ventures Ltd is a wholly-owned subsidiary of Brigade Enterprises ...

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