As has been the case with IPOs in 2019, UTI AMC has priced the IPO attractively
SBI, LIC, Punjab National Bank and Bank of Baroda each hold 18.5 percent stake in the UTI AMC. The remaining stake is held by US company T Rowe Price.
The business channel learnt from sources that SBI, LIC and BoB may sell maximum 1.05 crore shares each while Punjab National Bank and T Rowe Price may sold 38 lakh shares each through the issue.
At present SBI, LIC, BoB, each hold nearly 18.5 percent stake in UTI AMC besides having their own independent mutual fund houses.
Sebi observed that LIC, SBI and BoB are the sponsors of LIC Mutual Fund, SBI Mutual Fund and Baroda Mutual Fund, respectively, and they also hold more than 10 per cent stake each in these mutual funds.
The proposal to double minimum monthly pension Rs 2,000 under the Employees' Pension Scheme, 1995, was deferred as employees' representative demanded for higher amount, the source added.
The plea was filed against other 4 stakeholders in UTI AMC--State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation
Speaking on the economy, Vetri Subramaniam highlighted that there has not been much strength in capex cycle, while capacity utilization has also not risen dramatically. Therefore, capex itself is at a weak ebb, he said.
The scheme has a target corpus of Rs 750 crore, with an additional green shoe option of Rs 250 crore
I am hopeful that RBI will carry out a resolution with urgency, said Leo Puri, MD, UTI Asset Management Company.
Vetri Subramaniam feels it is slightly dangerous to completely rely on earnings forecasts. He believes that the current market is a stock-picking one. Look for stocks with attractive valuations.
UTI Mutual Fund is looking at achieving assets under management of Rs 500 crore in Woman Savings Plan from Rs 200 crore at present within the next one year, a senior company official said today.
The fund house is looking at financing corporates who need short term capital, with the newly floated fund.
Despite receiving a nod for a broad-based listing two weeks ago from its public sector bank stakeholders, namely State Bank of India, Punjab National Bank and Bank of Baroda, UTI AMC will not get listed until its fourth major PSU shareholder, LIC, agrees for a listing.
Mutual fund industry veteran Vetri Subramaniam today joined UTI Asset Management Company (UTI AMC) as Group President and Head of Equity.
Corrections like the one the market is currently undergoing are great opportunities for investors to buy stocks to make over a three-four year period, says Lalit Nambiar, fund manager with UTI Asset Management Company.
Amandeep Chopra of UTI AMC believes the US Federal Reserve's decision on when to raise rates continues to be the biggest trigger in the immediate term.
EPFO trustees okay upping age limit uAt present, a formal sector worker covered under the EPS-95 can make contributions towards pension scheme till the age of 58 years and can claim pension thereafter. nder pension scheme to 60
Leo Puri, MD of UTI AMC believes it is imperative that both the Reserve Bank and the government demonstrate commitment with regard to monetary policy and reforms respectively.
The Morningstar Investment Conference held recently saw a few of India‘s top fund managers take the stage in an interaction to discuss their outlook on stocks, markets and investing.
IDBI Asset Management appoints Mr. Ganti Murthy as Head- Fixed Income
As far as economic reforms are concerned, the ball is now in government's court and the Reserve Bank of India cannot do much except for taking care of the currency market, says Lalit Nambiar, SVP & Fund Manager Head-Research - UTI AMC.
In an interview to CNBC-TV18 Amandeep Chopra of UTI AMC spoke about the banking sector and bonds
Financial Advisor Forum presented by UTI Mutual Fund and CNBC-TV18 highlights opportunities for a financial advisor that exists not only in metros, but even beyond them.
Given the uncertain global environment and indifferent domestic business scenario, one should expect quity markets, India included to remain volatility, says Lalit Nambiar, SVP and fund manager, UTI AMC.