Business »  Topic »  SBI plans to sell 8.25% stake in UTI AMC via IPO

SBI plans to sell 8.25% stake in UTI AMC via IPO


In August last year T Rowe Price had filed a case in the Bombay High Court against the Union government asking it to prevent four PSU financial investors from scuttling UTI’s attempts at an IPO.

Currently, Life Insurance Corporation (LIC), State Bank of India (SBI), Punjab National Bank (PNB) and Bank of Baroda (BoB) each hold 18.25% of the AMC’s shares. US investment company T Rowe Price holds 26% in the fund house.

State Bank of India (SBI), the country’s largest lender, has decided to sell up to 8.25% stake in UTI Asset Management Company ...


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