UTI Asset Management Company to invest Rs 5.93 cr in AMC Repo Clearing

UTI Asset Management Company to invest Rs 5.93 cr in AMC Repo Clearing

Sep 08, 2021 12:09 IST capital market

UTI Asset Management Company has applied for private placement of equity shares of AMC Repo Clearing (ARCL) by paying an application amount of Rs. 5,93,88,000 which will constitute 3.96 % of paid-up equity share capital of ARCL.

ARCL was incorporated on 17 April 2021 and will be engaged in the business of clearing and settlement of transactions in corporate bonds and to ensure completion and guarantee of settlement and to facilitate, promote, assist, regulate and manage dealings in corporate bonds, subject to necessary approvals.

ARCL is raising capital to the tune of Rs. 150 crore.

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