The state-owned UTI Asset Management Company (UTI AMC) is the fifth largest mutual fund player in a highly competitive market with over Rs one lakh crore of assets under management.
The company has once again sought approval from the ministry of finance to list its shares by bringing out an an IPO.
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UTI AMC, which runs the country’s oldest fund house UTI MF, had earlier also planned to launch an IPO, but it had to shelve its plans way back in 2008 due to adverse market conditions, despite having got all regulatory clearances.
UTI AMC enjoys a huge recognition in the public by virtue of having the largest number of unitholders.