 "IPO, initial public offering")
The much-awaited initial public offering (IPO) of UTI Asset Management Company (AMC) is facing a delay in obtaining approval from markets regulator Securities and Exchange Board of India (Sebi), even after six months of filing its offer document.
People in the know said Sebi has reservations over certain compliance issues. These include appointment of the permanent chief executive officer (CEO) and alleged violation of overseas investment norms by the fund house involving its Mauritius entity.
“The regulator has sought certain clarifications and additional information from the AMC with respect to certain compliance- and violation-related matters. The investment bankers replied to
