UTI AMC's yet-to-be listed shares show uptick in prices, gain over 30%

Analysts say final price discovery to depend upon various factors

The shares of UTI Asset Management Company (AMC) have started showing uptick in prices in off-market private placements in light of the visibility over its long-awaited public issue, with market participants suggesting that the prices have gained over 30 per cent in last one month. Further, market sources add the AMC is likely to file its draft red herring prospectus this week.

"We had been offering these shares -- which we had sourced through different channels -- at around Rs 850 last month. Now, the prices are close to Rs 1,100 per share," said a dealer with a broking house, which