Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Opinion / Online-views/  UTI AMC files IPO draft prospectus
BackBack

UTI AMC files IPO draft prospectus

UTI AMC files IPO draft prospectus

Premium

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.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 11 Jan 2008, 12:54 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App