Uti To Lower Stake In Uti Bank To 26%

The Unit Trust of India (UTI) has decided to bring down its stake in UTI Bank to 26 per cent from 44.9 per cent, without losing management control. The dilution in stake will not be done through divestment but by expanding the equity base of the bank.

The licensing norms for new banks stipulate that the promoters must bring down their stake to 40 per cent.