India: UTI AMC plans to launch its $408m IPO next week

India: UTI AMC plans to launch its $408m IPO next week

The building of the Bombay Stock Exchange in Mumbai. Credit: Wikimedia Commons

Mutual fund manager UTI Asset Management Co. Ltd (UTI AMC) is planning to launch its ₹3,000 crore initial public offering (IPO) in the week of 14 September, as the company’s existing shareholders look to tap the recovery in the IPO market.