UTI MD Leo Puri says close to an IPOs
Monday, March 13, 2017, 10:19 AM
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. The country’s sixth largest asset manager has four state-owned companies like State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corp holding 18.5% each. The remaining 26% is owned by T. Rowe Price.