New fund offers (NFO) in mutual funds is similar to initial public offering (IPO) where a company before launching its share on the stock exchange offers the shares to the investors for subscription. In a similar manner, before launching the fund officially in the market the mutual fund houses offer the units so that investors are able to make an investment in that particular fund.
L&T, 6 others pick 8.03% stake in Cube Highways Trust for Rs 1,243 crore
The company had clocked a loss of Rs 20 crore in the year-ago period. Its total income rose to Rs 830.9 crore from Rs 781.6