UTI AMC files DRHP with SEBI for IPO

UTI Asset Management Company (UTI AMC) has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise an estimated Rs 3,000 crore through an Initial Public Offering (IPO). The shares of the bank are proposed to be listed on NSE and BSE.

The object of the public issue is to achieve the benefits of listing the equity shares on stock exchanges. The book running lead managers to the issue are Kotak Mahindra Capital, Axis Capital, CitiBank, DSP Merrill Lynch, ICICI Securities, JM Financial and SBI Capital Markets.

UTI Asset Management Company operates as an investment management firm. The company offers asset management, research analysis, portfolio construction, financial planning, and advisory services to group of individual and institutional investors. UTI Asset Management serves clients in India.

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