UTI Mutual Fund ( UTI MF ) IPO : UTI Mutual Fund Pre IPO Placement
UTI Mutual Fund ( UTI MF ) IPO : UTI Mutual Fund Pre IPO Placement
UTI Mutual Fund intends to sell 20 percent of its equity through private placements ahead of its planned initial public offering.
“We plan to offload 20 percent through private placement that will be carried out by expanding the equity base,” ” No single investor would be offered more than 5 percent” Sinha told.
UTI Mutual Fun IPO is likely in January, and the pre-IPO placement likely to raise 40-60 billion rupees ($1-$1.5 billion).
According to media reports, Goldman Sachs, JPMorgan, Lehman Brothers, Morgan Stanley, Merrill Lynch, J.M. Financial and Enam Securities are in the race to manage the IPO.
