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Business News/ Markets / Ipo/  UTI AMC files IPO papers to raise about 3,000 crore
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UTI AMC files IPO papers to raise about ₹3,000 crore

The public offer is expected to raise a little over ₹3,000 crore, market sources said
  • As of September 30, 2019 the company had the largest share of monthly average AUM
  • The public offer is expected to raise a little over ₹3,000 crore, market sources said. (iStock)Premium
    The public offer is expected to raise a little over 3,000 crore, market sources said. (iStock)

    NEW DELHI : UTI AMC has filed its initial papers with markets regulator Sebi for initial public offering (IPO) to raise a little over 3,000 crore.

    The country's largest asset management company in terms of total AUM, has filed offer document with the regulator for an initial public offer of up to 3,89,87,081 shares, through an offer for sale of up to 1,04,59,949 shares By State Bank Of India, up to 1,04,59,949 shares by Life Insurance Corporation Of India, up to 1,04,59,949 shares by Bank Of Baroda, up to 3,803,617 shares by Punjab National Bank and up to 3,803,617 shares by T Rowe Price International, according to the draft red herring prospectus (DRHP).

    The public offer is expected to raise a little over 3,000 crore, market sources said.

    The US-based T Rowe Price holds 26 per cent stake in the asset management company.

    Kotak Mahindra Capital, Axis Capital, CitiBank, DSP Merrill Lynch, ICICI Securities, JM Financial and SBI Capital Markets are the book running lead managers to the offer.

    The shares of the company are proposed to be listed on the BSE and the NSE.

    As of September 30, 2019 the company had the largest share of monthly average AUM.

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    Published: 19 Dec 2019, 06:53 PM IST
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