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Monday July 28th 2014

UTI Mutual Fund IPO soon to hit the market

Now you can not only invest in UTI Mutual fund but also buy as stocks either from IPO or through secondary market after IPO.CNBC-TV18 has learnt that India’s third largest mutual fund – UTI, is looking to raise nearly USD 1.5 billion dollars through its forthcoming IPO. There is reason for SBI, Bank of Baroda, LIC and PNB to celebrate.
Investors will soon be able to trade UTI, without investing in its funds. UTI mutual funds is all set to be India’s first listed asset management company. It has roped in seven investment bankers – Citi, JM Financial, Enam, UBS, Goldman Sachs, SBI Capital and ICICI Securities. It is a two-part process.