The issue size is expected to be Rs 3,000-4,000 crore, valuing the AMC at Rs 10,000-11,000 crore
Analysts say final price discovery to depend upon various factors
Last week, the country's largest lender State Bank of India had approved diluting up to 8.25% stake in UTI AMC
LIC, SBI and BoB are also sponsors of UTI AMC and hold more than 10 per cent stake individually in the AMC and trustee company of UTIMF
The total dilution in the IPO could be 33 per cent
The volatility that we are seeing isn't exceptional, says Vetri Subramaniam
Besides, the Employees' Provident Fund Organisation (EPFO) also approved a proposal for early redemption of its investment of around Rs 700 crore in bonds of DHFL
Earlier this year, the EPFO had made it clear that the SBI as a bank could not continue as the fund manger of the body
The entire pharmaceutical sector has witnessed a significant correction and this is visible in the valuations, says UTI AMC's Subramaniam
Its biggest shareholder T Rowe Price had publicly expressed concerns regarding leadership continuity
LIC writes to Dipam saying IPO could be delayed, as T Rowe not cooperating; US-based fund house says it is supportive of IPO
Rahman will look after the day to day operations of the company and work closely with the rest of the senior leadership team
'Yes, we may have ceded some market share, but we are among the most profitable fund houses', says Leo Puri
Shareholders Bank of Baroda, PNB and T Rowe Price on board