Jio-BlackRock Asset Management expands its mutual fund offerings by introducing regular plans, while the IPO market displays varied investor interest with listings and subscription levels ranging from strong to subdued.
Jio-BlackRock Asset Management has widened access to its mutual fund business by adding regular plans, a move that lets investors buy through registered distributors rather than only directly. The company said the change gives savers more ways to access its products, though regular plans usually carry higher expense ratios because they include distributor commissions.
In another markets development, Tempsens Instruments has set a price band of ₹285 to ₹300 a share for its ₹650 crore initial public offering, with subscriptions opening on August 20 and closing on August 24. The company is aiming for a tentative listing on August 28. The issue includes a fresh offering of ₹95 crore and an offer for sale of ₹555 crore, with the proceeds earmarked for debt reduction, capital spending on electrical heating and specialised cables, and general corporate purposes.
The day also brought a mixed picture in the IPO market. Molbio Diagnostics and Dhoot Transmission both listed strongly and finished Monday well above their issue prices, while Lalithaa Jewellery Mart’s IPO was subscribed 0.68 times on day one, led by employee demand. Horizon Industrial Parks fared more weakly, with its issue subscribed just 0.14 times, although employee bids were slightly stronger than the overall tally.
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