Shares of Nippon Life India Asset Management surged nearly 14 per cent to Rs 322 on the BSE on the back of heavy volumes. At 12:02 pm, the stock was trading 11 per cent higher at Rs 317, as compared to 0.74 per cent rise in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled with a combined 4.05 million equity shares changing hands on the NSE and BSE so far.
rose 4 per cent to Rs 2,550 on the BSE. Thus far, a combined 667,000 shares have changed hands on the NSE and BSE, the exchange data shows.
“UTI AMC is the country’s largest AMC in terms of total assets under management (AUM) comprises sale of 38.99 million equity shares by existing shareholders, according to the draft red herring prospectus (DRHP),” news
agency PTI reported.
State Bank of India (SBI), Life Insurance Corporation (LIC), and Bank of Baroda (BoB) are offering to sell around 10.46 million shares each, while Punjab National Bank (PNB) and T Rowe Price International are planning to offload 3.8 million shares each. The public offer is expected to raise a little over Rs 3,000 crore, market sources said. CLICK HERE TO READ FULL REPORT