IL&FS Mutual Fund has announced the introduction of an Institutional Plan under IL&FS Liquid Account. The Plan would be open for initial offer on July 30 and July 31, 2003. It will open for NAV-based sales and redemption from August 1, 2003.
The fund offers two options: Growth and Dividend Reinvestment. The minimum investment in the fund is Rs 1 crore and in multiples of Rs 1000 thereafter. The initial offer price of the Growth and Dividend Reinvestment Options of the Institutional Plan would be the NAV of the Growth and Dividend Plans of IL&FS Liquid Account, respectively, on the offer date.