The initial public offering (IPO) of UTI AMC is slated to hit the markets this month. Sources in the industry said the fund house will launch its IPO on September 29. However, the price band of the issue is not known. The Securities and Exchange Board of India (Sebi) had given its approval for the IPO in June this year. The issue is likely to fetch shareholders around Rs 3,000-3,500 crore, claim market participants. Five shareholders of the UTI AMC will be selling nearly 3.89 crore shares through the IPO. The IPO will see the shareholding of three public sector undertaking (PSU) shareholders – State Bank of India ( SBI ), Life Insurance Corporation of India (LIC) and Bank of Baroda – go down to just below 10% each, while that of Punjab National Bank ( PNB ) will go down to 15.24%. Currently, SBI, LIC, BoB and PNB hold 18.24% each in the fund house. The shareholding of US investment firm T Rowe Price will go down to 23%, from the current 26%, af...
Pre IPO | Private Equity | Unlisted Shares