An Indian equities investment trust run by former Goldman Sachs manager Prashant Khemka has raised £45.6m in its first placing, less than half the £100m it had targeted.
The Ashoka India Equity investment trust has announced its intention to launch its initial public offering (IPO) on the premium segment of the main market of the London Stock Exchange, targeting an issue of £100m. It will be a high conviction, long-only investment trust, investing mainly in stocks listed in India and listed stocks of companies with a significant presence in India. The trust will take a benchmark-agnostic approach and expects to hold between 20 and 40 companies that can make a secular and steady long-term return for investors. The issue will be achieved by means of ...
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