UTI AMC has received approval from SEBI to launch an initial public offer (IPO). Market sources said that the public offer is expected to raise over Rs 3,000 crore.

UTI AMC will be the third fund house to get listed on BSE and NSE after HDFC AMC and Nippon India MF.

The AMC’s IPO comprises sale of 3.90 crore equity shares by existing shareholders, which includes SBI, LIC, Bank of Baroda (BoB), Punjab National Bank (PNB) and T Rowe Price International. SBI, LIC, PNB and BoB hold 18.5% stake each in UTI AMC. The US-based T Rowe Price holds 26% stake in the AMC.

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