UTI MF files draft papers for IPO; issue size likely to be up to Rs 4000 cr

UTI Asset Management Company (AMC) on Thursday filed the draft red herring prospectus (DRHP) for an initial public offering (IPO), which will finally give the PSU shareholders and US-based T Rowe Price (the sole private investor) the opportunity to discover the value of their long-held investments. 

According to investment bankers, the issue size is expected to be Rs 3,000-4,000 crore, valuing the AMC at Rs 10,000-11,000 crore. 

This would value the AMC at close to 6 per cent of its asset size of Rs 1.54 trillion (as of September quarter). The IPO is an offer for sale of 38 million