UTI AMC defers IPO due to market conditions

UTI Asset Management Company has deferred its initial public offering (IPO) due to market conditions, reports CNBC-TV18.

As per DRHP filed with SEBI, the company planned a issue of 4.85 crore equity shares of Rs 10 each.

The objects of the offer are to achieve the benefits of listing on the stock exchanges and to carry out the sale of equity shares by the selling shareholders.

UTI AMC provides asset management services in India catering to a diverse group of individual and institutional investors through a wide variety of equity and debt funds. The company manages domestic mutual funds, as well as provide portfolio management services and manage overseas, venture capital and private equity funds. 

Global coordinators and book running lead managers to the issue are JM Financial Consultants Pvt Ltd, Citigroup Global Markets India Pvt Ltd, Enam Securities Pvt Ltd, Glodman Sachs (India) Securities Pvt Ltd, UBS Securities India Pvt Ltd, ICICI Securities Ltd, SBI Capital Markets Ltd and CLSA India Ltd. Karvy Computershare Pvt Ltd is registrar to the issue.