IPO for new India vehicle
John Pereira is at the centre of an initial public offering (IPO) announced to the market this week.
The IPO is for a new Listed Investment Company (LIC) which plans to provide Australian investors a gateway to investing in India.
India Fund Limited plans to raise up to $100 million with a minimum subscription of $35 million with Morgans having been named as the lead manager.
Pereira said Australian investors had not kept up with India's rise and were now under-invested in the economy.
He said the company would offer Australian investors a unique mix of equities and fixed income securities, designed for strong income with capital growth.
Pereira said the fixed income allocation would provide a more well-rounded exposure to India than equities alone.
India Fund Limited's portfolio will be managed by Kotak Mahindra (UK) Ltd, part of Kotak Mahindra Banking Group, which is India's fourth largest banking group in the private sector, and listed on the Bombay and National stock exchanges.
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