UTI IPO from the family of UTI Asset Management Companyhas been assigned Grade 4/5 to its IPO by Crisil. UTI AMC is planning to raise Rs 23-24 billion by this proposed offer for sale of 48,500,000 equity shares.I have to say this grading doesn’t mean anything , it depensds on the market mood .So let us see how it is when the IPO comes out.
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.