 "SBI")
State Bank of India (SBI) on Wednesday said it will divest 8.25 per cent in the proposed initial public offering (IPO) of UTI Asset Management Company. The lender currently holds 18.25 per cent stake in the mutual fund house. Three other public sector undertakings (PSU) Life Insurance Corporation, Bank of Baroda (BoB) and Punjab National Bank (PNB) also hold 18.25 per cent each, while US-based T Rowe Price owns 26 per cent.
Sources say LIC, BoB and PNB too, are expected to divest 8.25 per cent each in the UTI AMC IPO.
The total dilution in the IPO could be 33 per
