UTI Mutual Fund (MF) is eyeing valuation of Rs 10,000 crore in its initial public offering (IPO), which could hit the market before the end of this financial year. Investment banking sources say the country’s seventh-biggest mutual fund house will file its offer document with the Securities and Exchange Board of India (Sebi) before the end of December.
The IPO will be entirely an offer for sale (OFS) by the existing shareholders, mainly Life Insurance Corporation (LIC), State Bank of India (SBI), Bank of Baroda (BoB), and Punjab National Bank (PNB).
