UTI AMC receives Sebi approval to launch IPO

The IPO is likely to be priced at Rs850-900 per share.

Jun 23, 2020 01:06 IST India Infoline News Service

Initial Public Offer, IPO
The country’s seventh-largest mutual fund house UTI Asset Management Company (AMC) has received the Securities and Exchange Board of India’s (SEBI) approval for an initial public offering (IPO).

As per latest update with the markets watchdog showed, the company had filed draft papers with Sebi in December 2019, obtained its observations on June 16.

Existing shareholders of the fund will sell 3.90cr shares in the issue that could help raise about Rs3,500cr for them and the IPO is likely to be priced at Rs850-900 per share.

Source: Media Reports

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