Indian government set to approve $714m UTI AMC IPO

T . Rowe Price, the largest shareholder of UTI Asset Management Co. (UTI AMC), called a truce with the government and the markets regulator after the finance ministry agreed to issue a no-objection (NOC) letter for UTI AMC’s initial share sale, and direct state-run financial institutions to cut their stakes in the local asset manager, two people aware of the development said.