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Sebi orders LIC, SBI, Bank of Baroda to reduce stake to below 10% in UTI AMC by December 2020
December 6, 2019 | By Moneycontrol.com
business
Sebi observed that LIC, SBI and BoB are the sponsors of LIC Mutual Fund, SBI Mutual Fund and Baroda Mutual Fund, respectively, and they also hold more than 10 per cent stake each in these mutual funds.
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Markets regulator Sebi on December 6 directed three public sector financial institutions -- LIC, SBI and Bank of Baroda -- to dilute their stakes to below 10 per cent in UTI Asset Management Company (AMC) by December next year. In the case of non-compliance w
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