Tata Asset Management has reportedly emerged as the leading contender to acquire a substantial stake in UTI Asset Management Company (AMC), according to sources cited by ET Now.
The proposal to sell equity stakes in UTI AMC has been revived by its top institutional shareholders. Currently, four institutional holders—Bank of Baroda, LIC, PNB, and SBI—jointly own a 45% equity stake in the fund house. The potential buyout could value this 45% stake at approximately Rs 6,700 crore.
Tata Sons, which already holds about 68% of Tata Asset Management, with Tata Investment Corp holding the remaining ~32%, had previously expressed interest in acquiring UTI AMC in 2023, though discussions had stalled at that time.
Should the acquisition proceed, it may trigger an open offer to UTI AMC shareholders by the buyer.
