UTI AMC IPO PLAN FACES A DELAY OVER COMPLIANCE ISSUE

The much-awaited initial public offering (IPO) of UTI Asset Management Company (AMC) is facing a delay in obtaining approval from markets regulator Securities and Exchange Board of India (SEBI), even after six months of filing its offer document.

People in the known said Sebi has reservations over certain compliance issues. These include appointment of the permanent chief executive officer (CEO) and alleged violation of overseas investment norms by the fund house involving its Mauritius entity.

Sandip Ginodia , Director

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