The Baltimore-based T Rowe Price picked up 26 per cent in UTI in Novemeber 2009 by Buying 6.5 per cent stake each from the four promoters for USD 140 Million
We are yet to go in for valuation as it will be discovered by the market. But we are sure of our valuation topping USD 1 Billion. But the exact Valuation will be determined as we go to the market for price discovery,"he said, adding the issue size will depend on our shareholders.
Asked whether the company has sought the Government permission, Puri answered in the affirmative saying,"It has been pending with the government for a long know, but know I hope that it would be coming anytime now
From its hallowed position of No 1 fund house for decades following the US Crisis, UTI has now fallen to a distant sixth slot. As of end-november, its oversead AUM stood at Rs 26,000/- Crore. By average AUM, UTI is the sixth largest with an averge AUM of Rs. 1,29,888/- crore in september 2016
Asked whether UTI, which manages Rs 3 trillion assets including its global fund, has come out of the US 64 crisis, Puri said, "Of course. In the past two-three years we've come a long way" and that it is also looking at faster growth through acquisitions.
"The MF market is at an inflection point and we are keen to utilise the opportunity for faster growth. After the IPO we will be looking at inorganic growth. In fact, we hope to utilise a good portion of the IPO proceeds to faster growth, which could be driven by acquisition,"Puri said.