Before the UTI AMC IPO, the government will ask LIC, SBI, PNB and Bank of Baroda to cut their stakes in UTI Mutual Fund from 18.25% to 10% each
Mumbai: T . Rowe Price, the largest shareholder of UTI Asset Management Co. (UTI AMC), called a truce with the government and the markets regulator after the finance ministry agreed to issue a no-objection (NOC) letter for UTI AMC’s initial share sale, and direct state-run financial institutions to cut their stakes in the local asset manager, two people aware of the development said.
Recommended For You
Select your Category
Internet Not Available
Wait for it…
Log in to our website to save your bookmarks. It'll just take a moment.