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UTI AMC files IPO draft prospectus

UTI AMC files IPO draft prospectus
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First Published: Fri, Jan 11 2008. 12 54 PM IST
Updated: Fri, Jan 11 2008. 12 54 PM IST
PTI
Mumbai: UTI Asset Management, the country’s biggest public sector mutual fund house, has filed draft red herring prospectus for its initial public offer for 4.85 crore equity shares with the market regulator Sebi.
The IPO is estimated to raise close to Rs2,000 crore ($500 million) and would involve part-sale of shares held by its promoters SBI, LIC, PNB and Bank of Baroda, all of which are government-controlled banking and financial institutions.
UTI Mutual Fund is the country’s second largest fund house, after Anil Ambani group’s Reliance Mutual Fund, with asset under management of about Rs57,000 crore, as on 31 December 2007.
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First Published: Fri, Jan 11 2008. 12 54 PM IST
More Topics: UTI AMC | Mutual Fund | IPO | Sebi | DRHP |