Punjab National Bank (PNB) has informed BSE that PNB is one of the original sponsors of UTI Asset Management Company Ltd. (UTIAMC) and UTI Trustee Company Pvt. Ltd. (UTI Trustee) along with 3 other institutions (each holding 25% of equity). PNB has agreed to sale of 6.5% stake to M/s. T Rowe Price Global Investment Services Ltd.
Accordingly PNB has executed the documents on November 07, 2009 for sale of 81,25,000 shares of UTI AMC @ Rs. 200 each (aggregating Rs. 162.50 crore) and 6,500 shares of UTI Trustee @ Rs. 11.92 per share (aggregating Rs. 77,500) to M/s. T Rowe Price Global Investment Services Ltd.
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