Permission For Ugs 2000, Masterplus Rights Revoked
UTI has already informed the Bombay Stock Exchange (BSE) about the change in the plan regarding the rights offer. The record date for the rights offer had been announced earlier.
According to senior officials at the UTI, this could result in a loss of close to Rs 400 crore to the market, which could otherwise have been mobilised by way of the proceeds of the rights of these two schemes and which would have found its way to the markets.
When the market is passing through such a critical phase, the proceeds that accrue from the rights offering