UTI Asset Management Company IPO

The stake is valued at around Rs 1,437 crore at UTI AMC's last closing price of Rs 743.5

According to reports, Tata AMC plans to acquire the shares held by four public sector undertakings (PSUs) in the fund house that manages assets worth Rs 2.24 trillion

Listed peers have stood fast despite troubles in the mutual fund space

The IPO of the country's largest AMC in terms of total AUM comprises sale of 38,987,081 equity shares by existing shareholders

People in the know said Sebi has reservations over certain compliance issues

Subramaniam says cheap valuations and easy monetary policy will set the tone for attractive long-term returns

The issue size is expected to be Rs 3,000-4,000 crore, valuing the AMC at Rs 10,000-11,000 crore

Details of the offering could change as the deliberations are ongoing

UTI AMC could become the first fund house to be listed in the country