UTI MD Leo Puri says close to an IPO
Monday, March 13, 2017, 4:36 PM
UTI Asset Management Co. Ltd has enough shareholder backing to clear a proposal for an IPO, but the management wants approval from all its five shareholders, said a top executive. The company has four state-owned companies holding 18.5% each, State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corp. The remaining 26% is owned by T. Rowe Price.