InvestorQ : What are your thoughts on the UTI AMC IPO schedules in the next week?
Chandralekha Desai made post

What are your thoughts on the UTI AMC IPO schedules in the next week?

Answer
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NISHA Nayak answered.
3 weeks ago


UTI AMC will launch its proposed Rs.3000 crore IPO in the third week of September. The existing stakeholders of UTI AMC will be looking to take an exit via the route. Happiest Minds has already got a good response in the IPO market on the first day of the IPO.

Equity mutual funds in India saw net outflows in Jul-20, the first occasion in the last four years as there was a virtual rush to redeem holdings during the stock market rally. The net outflow at Rs.2480 crore in Jul-20 was marginal, but it was an outflow nevertheless.

The UTI IPO is more of a regulatory need at this point of time. These stakeholders in UTI AMC need to statutorily reduce their stake in the asset manager. LIC, SBI and BOB will have to reduce their stake in UTI AMC to 10% as per SEBI regulations due to their MF presence.