Reserve price for UTI Sec fixed at Rs 150 cr.
Economic Times (New Delhi, India), September, 2005
Byline: Sangita Mehta
Sep. 21--MUMBAI, India -- A reserve price of Rs 150 crore has been fixed for selling UTI Securities -- the broking and investment banking arm of the erstwhile Unit Trust of India (UTI). The Administrator of the Specified Undertaking of Unit Trust of India (ASUUTI), which fully owns UTI Securities, has received six bids for the company. The bidders are Life Insurance Corporation, SBI Capital Markets, Bank of India (BoI), Bank of Baroda (BoB), UTI Bank, and Securities and Trading Corporation of India (STCI).
ASUUTI, better known as UTI-I, has asked the bidders to submit their financial bids on or before September 30.
Sources said auditors SB Billimoria & Co and MP Chitale & Co have been appointed by UTI-I for the valuation...
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