Tata in talks to buy majority stake in UTI AMC from 4 PSU finance entities (2023)

 https://youtu.be/Z93uALjyik0?si=H_20qFmDeb0hMLtt


  • Tata in talks to buy majority stake in UTI AMC from 4 PSU finance entities (2023)

  • Officials close to the development said the salt-to-software conglomerate is watching the marketplace to assess Jio's future plans and their impact on the competitive dynamics of the pooled-money industry. Financial sector majors view Jio Financial Services as a potentially disruptive player at a time when the Indian mutual fund industry is expected to welcome half a dozen new entrants

  • The Tata Group is looking to buy a majority stake in India's eighth largest mutual fund UTI Asset Management Co (AMC). The group is in final stages of negotiation to buy the stake from four state-owned financial entities -- Punjab National Bank, Life Insurance Corporation of India, State Bank of India, and Bank of Baroda – which together own 45.16 per cent stake in UTI AMC.

  • In the latest found of reports, it is reported that UTI Asset Management Company (AMC) may sell out its mutual fund business to Tata AMC. Incidentally, Tata Mutual Fund started off with a lot of promise and flourish but could never really scale up its business the way other players have done.
  • Clearly, under the leadership of N Chandrasekharan there is not room for being in any business if the company is not in the top-3.
  • Even earlier this year in August 2022, there were a number of reports hinting that the Tatas could take over a controlling majority stake in UTI. If the deal does happen, it could really shake up the ranks among the top ranked AMCs. 
  • The Tata Group is assessing whether to bid for UTI Asset Management Company (UTI AMC) following the entry of Jio Financial Services into the mutual funds industry
  • "There is a lot of interest for sure in the UTI AMC and the group would have been happier to close the bid much earlier. But that didn't happen, unfortunately," said an official aware of the matter. "It is a different scenario today with the entry of Reliance that, until now, has not shown any interest in bidding for UTI AMC and may choose a different strategy. But the Tata group is watching the situation closely and will take a timely decision accordingly.

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