UTI AMC set to go public with Rs 3,000-cr issue on September 29

UTI Asset Management Company (UTI AMC) is planning to launch its Rs 3,000-crore initial public offering (IPO) on September 29.  The IPO is a pure offer for sale (OFS). State Bank of India, Life Insurance Corporation of India (LIC), Punjab National Bank, Bank of Baroda, and T Rowe Price International are selling shares. The issue will close on October 1, and the details of the price band are not known.  The IPO includes a reservation of up to 200,000 shares to eligible employees. The offer constitutes 30.75 per cent of the post paid-up capital of the company.

Kotak Mahindra Capital, Axis