India: UTI Asset Management to sell 26-30% stake through IPO this fiscal

India: UTI Asset Management to sell 26-30% stake through IPO this fiscal

Leo Puri, managing director of UTI Asset Management. Photo: Aniruddha Chowdhury/Mint

UTI Asset Management Co. Ltd, India’s oldest and the sixth largest asset management company is ready to launch an initial public offering (IPO) and will offer to sell 26-30% of its equity, three people with direct knowledge of the matter said, asking not to be identified.

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