UTI MF, Mazagaon Dock IPOs open Sept 29, Angel Broking sees muted demand

The Rs 600-crore IPO of Angel Broking garnered nearly four times subscription

Topics
UTI Mutual Fund | IPOs | Centre

BS Reporter 

UTI MF’s Rs 2,160-cr IPO to open Sept 29 UTI Mutual Fund will launch its Rs 2,160-crore IPO on September 29. The IPO comprises secondary share sales by State Bank of India, Life Insurance Corporation, Bank of Baroda, Punjab National Bank and T Rowe Price. While LIC, SBI and BoB are selling 8.25 per cent stake each, PNB and T Rowe are offloading 3 per cent in the IPO.

The price band for the IPO is Rs 552 to Rs 554 per share. At the top end, UTI will be valued a Rs 7,000 crore. Following the IPO, LIC, SBI and BoB’s stake will fall below 10 per cent, making them compliant with ...

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First Published: Thu, September 24 2020. 17:58 IST
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