Franklin Templeton appoints Kotak Bank as advisor to wind up 6 schemes
- Franklin Templeton Trustee Services has appointed an independent advisor to monetise the assets held by the six debt schemes that are being wound up abruptly.
- The decision of the fund house to engage Kotak Mahindra Bank for selling the asset comes on instructions by market regulator SEBI and pending investor voting results, said Franklin Templeton in a statement.
- Kotak Mahindra Bank through its Debt Capital Markets team will work closely with the Franklin Templeton Trustees with all portfolio actions in the six schemes ― Franklin India Low Duration Fund, Dynamic Accrual, Credit Risk, Short Term Income, Ultra Short Bond and Income Opportunities Fund.
- “This transaction values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
- Sanjay Sapre, President, Franklin Templeton – India, said Franklin Templeton is committed to ensuring an orderly and equitable exit for all investors at the earliest possible time and the tie-up will ensure an efficient wind-up of these schemes, while preserving maximum value for investors.
- Sujata Guhathakurta, President – Debt Capital Markets, Kotak Mahindra Bank, said the bank is looking forward to working closely with the Trustees and the AMC to assist them in winding up the six schemes.
About Franklin Templeton-
- Franklin Resources Inc. is an American multinational holding company that, together with its subsidiaries, is referred to as Franklin Templeton.
- Formation – 1947
- Headquarters – California
- President & CEO- Jennifer M. Johnson
- Executive Chairman and Chairman of the Board– Gregory E. Johnson
- President, India– Sanjay Sapre
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