Indiabulls Mutual Fund, a financial services company, has raised $223.6 million through its maiden liquid fund which was open for subscription for just one day, Economic Times reports. The Indiabulls Liquid Fund will track the performance of the Crisil Liquid Fund Index.
The new fund offer opened and closed for subscription on October 24. The scheme will reopen for ongoing purchase and sale from October 28 at net asset value-based prices. The company is sponsored by Indiabulls Financial Services, which has a net worth of $941 million with an asset book of more than $5.45 billion.
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