SUBSCRIBE NEWSLETTER
  • Change Language
  • English
  • Hindi
  • Marathi
  • Gujarati
  • Punjabi
  • Tamil
  • Telugu
  • Bengali
  • MF News UTI AMC set to hit IPO market

    UTI AMC set to hit IPO market

    It will be the second fund house to get listed in India.
    Rosevina Gonsalves May 25, 2017

    UTI Asset Management will soon bring its IPO sometime during this fiscal. The AMC is in the process of filing its draft red herring prospectus with SEBI.

    Leo Puri, Managing Director, UTI Asset Management said, “We had a few internal issues related to approval from the shareholders who are a critical component to our business. But now, we are in the process of resolving them and are proceeding towards filing the draft red herring prospectus with the market regulator.”

    The fund house is planning to dilute around 30% of its stake through IPO. According to a newspaper report, UTI MF will offer to sell 26-30% of its equity. All four PSUs - State Bank of India, Bank of Baroda, Punjab National Bank and Life Insurance Corp. of India have agreed to dilute their stake. US based asset manager T Rowe Price will continue to hold 26% of its stake, said the report.

    Another media report cited that the fund house is planning to raise Rs.2500 crore through IPO, valuing the company at Rs.10,000 crore. In FY 2015-16, UTI MF posted net profit of Rs.232 crore.

    UTI MF manages assets of Rs.1.37 lakh crore as on March 2017.

    It will be the second fund house to get listed in India. Shriram AMC was the first AMC to get listed in 1995.

    Have a query or a doubt?
    Need a clarification or more information on an issue?
    Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

    Click to clap
    Disclaimer: Cafemutual is an industry platform of mutual fund professionals. Our visitors are requested to maintain the decorum of the platform when expressing their thoughts and commenting on articles. Viewers are advised to refrain from making defamatory allegations against individuals. Those making abusive language or defamatory allegations will be blocked from accessing the web site.
    0 Comment
    Be the first to comment.
    Login or Sign up to post comments.
    More than 2,07,000 of your industry peers are staying on top of their game by receiving daily tips, ideas and articles on growth strategies. Join them and stay updated by subscribing to Cafemutual newsletters.

    Fill in the below details or write to newsdesk@cafemutual.com and subscribe to Cafemutual Newsletter now.