UTI AMC has launched the country's first momentum-based passively managed fund, based on the Nifty 200 index
Sebi had in August levied the fine on the three firms for failing to reduce their stakes to below 10 per cent in UTI AMC within the stipulated timeline
JM Financials Institutional Securities recently initiated coverage on UTI AMC with a 'BUY' rating and a target price of Rs 700
Both value and dividend yield funds benefit from market downturns by investing more aggressively on such occasions
This year the Officers Association filed an interim application pleading urgent hearing of the writ petition ahead of the IPO and to implead T Rowe Price as a respondent
Mazgaon Dock is the only shipyard to have built destroyers and conventional submarines for the Indian Navy
At 10:30 AM, shares of UTI AMC were trading at Rs 522.45 apiece on the BSE.
UTI AMC IPO was subscribed 2.3 times, that is, it received bids for 6.31 crore equity shares as compared to the issue size of 2.73 crore shares
The last hugely subscribed PSU IPO was that of IRCTC last year
Likhitha Infrastructure's Rs 61-crore IPO garnered nearly three times subscription. All the three IPOs close on Wednesday
UTI AMC is the second-largest asset management company in India in terms of total assets under management (AUM).
In the primary market, three IPOs will hit the street today
Past not impressive, but healthy industry growth, wide reach, strong management and brand, and focus on high-margin products are positives
In a Q&A, three of the firm's top brass dwell on its forthcoming IPO, the state of the MF industry and issues surrounding the company's ownership structure
Bids can be made for a minimum of 27 equity shares and in multiples of 27 equity shares thereafter.
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 liabilities could amount to Rs 1,250 crore, with bulk arising out of pension dues to 1,200-odd former employees, as per estimates by staff associations
Employee association plan to move court if corrective action is not taken
People in the know said Sebi has reservations over certain compliance issues
All India UTI AMC Officers' Association approaches Sebi, says draft prospectus does not highlight contingent liabilities