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UTI AMC's IPO plan runs into covid-19 hurdle

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₹46,594 crore at the end of December, which fell to ₹38,952 crore by the end of May. Total AUM also dropped to ₹1,31,855 crore from ₹1,58,59 crore.In an emailed response, UTI said, "the timing of the IPO is subject to receipt of regulatory approval and consideration of various commercial factors."Emails sent to SBI, BoB and LIC on Wednesday and reminders on Thursday did not elicit any response.According to a third person, the delay in the IPO also looks probable given that Sebi is yet to approve the draft prospectus filed by UTI.“Another reason for the delay in IPO is Sebi observations on some of UTI’s offshore funds," he said.LIC, SBI and BoB were to divest their stakes in two phases—a 25% divestment of the stake by all institutional.

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