The Funds Collected Under The Scheme Shall Be Invested In Equities, Fully Convertible Debentures/Bonds And Warrants Of Companies. Investment May Also Be Made In Issues Of Partly Convertible Debentures/Bonds Including Those Issued On Rights Basis Subject To The Condition That, As Far As Possible, The Nonconvertible Portion Of The Debentures/Bonds So Acquired Or Sub-Scribed Shall Be Disinvested Within A Period Of Twelve Months From Their Acquisition.
Tax Implications
Taxation on mutual fund explained : https://zfunds.in/article/taxes-on-mutual-funds