Four major shareholders plan further stake sale in UTI AMC

After diluting 6.5% each of their stakes in UTI Asset Management in favour of US-based T Rowe Price Group (TRP), four major shareholders of UTI AMC State Bank of India, Life Insurance Corporation, Bank of Baroda and Punjab National Bank are planning to opt for a second round of disinvestment in the company. However, the extent of dilution and its timing has not been finalised as yet. After the dilution of their stakes in favour of TRP, the stakes of four state owned companies has come down to 18.5% from 25%. Except for PNB, which sold its asset management operations ...

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