Accordingly, TRP acquired 6.5 per cent stake from each of the existing four sponsors of UTI AMC — State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India. Consequent to the stake sale, the existing sponsors will be left with a stake of 18.5 per cent in UTI AMC.
For all business purposes, the valuation of UTI AMC equity has been estimated at Rs 2,500 crore.
Currently, total assets under of UTI AMC including domestic funds, portfolio management services, venture funds and offshore funds is Rs 82, 065 crore or US$17.8 billion, while T Rowe Price Group’s total assets under management stands at US$ 366.2 billion.
(Published 20 January 2010, 15:16 IST)
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