Govt mulling strategic partner for UTI-MF: Chidambaram
The Government is looking at bringing in a strategic investor into UTI-MF, which would help the company to raise funds and make itself more competent in the mutual fund industry, Union Finance Minister, P Chidambaram, said on Friday.
By PTI |
MUMBAI : The Government is looking at bringing in a strategic investor into UTI-MF, which would help the company to raise funds and make itself more competent in the mutual fund industry, Union Finance Minister, P Chidambaram, said on Friday.
This would be done without diluting the majority stake of the existing partners, he told reporters here.
"UTI-MF is doing well...but a little shackled...they want to compete with other players in the market," Chidambaram said.
"We are looking for some strategic investors to be brought into UTI-MF without diluting the majority stake of the three banks and LIC," Chidambaram said.
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