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INDIA'S UTI BANK TO OFFER 30-33% STAKE TO PRIVATE EQUITY FIRMS.
NEW DELHI, Sept 1 Asia Pulse - UTI Bank is planning to offer a 30-33 per cent stake to private equity players during this fiscal year.
It has also kept its options open for the possible inclusion of a strategic partner or a merger with another bank.
"We had a choice of an overseas listing and private equity model. We chose the latter. We are trying to raise over Rs 40 crore by offloading a 30-33 per cent stake," said UTI Bank chairman P.J. Nayak.
UTI Bank's promoter, Unit Trust of India currently holds a 60 per cent stake in the bank.
Nayak said UTI Bank may rope in more than one private equity partner. But he declined to give names of the players or the premium amount that the bank intends to charge over and above the share price, which is currently ...
- FOREIGN COs LINE UP FOR UTI BANK (AIG, ING Barings Private Equity, DBS...
- News wire article from: Asia Africa Intelligence Wire November 26, 2002 700+ words
...possibility of buying equity in UTI Bank. UTI Bank's investment banker Salomon...International Group (AIG), ING Barings Private Equity, DBS Singapore and Chrysalis have shown keen interest. UTI Bank is quite likely to place 20 percent...
- HSBC in a quandary over UTI Bank deal?
- News wire article from: Asia Africa Intelligence Wire March 7, 2004 700+ words
...its 20 per cent ownership of UTI Bank for a little over Rs 410 crore...share purchase agreement with UTI Bank, the private equity firm was a strategic investor...to be approved by the board of UTI Bank as well as the Specified Undertaking...
- HSBC picks up 20 pc stake in UTI Bank.
- News wire article from: Asia Africa Intelligence Wire December 3, 2003 700+ words
...HSBC today agreed to buy 20.08 per cent stake in UTI Bank from private equity firm, CDC Capital Partners, at around Rs 90 per...and Mr Paul Fletcher in London. On the NSE, the UTI Bank share closed at Rs 95.80, 11.85 per cent up...
- HSBC gives in to RBI, bull market demands, sells 7 percent in UTI Bank.
- Newspaper article from: Economic Times (New Delhi, India) February 25, 2006 700+ words
...gains of our investment." The UTI Bank scrip closed at Rs 320.2 on...additional 5.37 percent of UTI Bank from Actis (the private equity fund created out of CDC) for...cannot buy additional stake in UTI Bank, or have a directorship in...
- UK's Barclays has 4.99 percent in UTI Bank.
- Newspaper article from: Economic Times (New Delhi, India) February 25, 2006 700+ words
...holds only 5 percent stake in UTI Bank after selling off its bulk holding...additional 5.37 percent of UTI Bank from Actis (the private equity fund created out of CDC) for...cannot buy additional stake in UTI Bank, or have a directorship in...
- SEBI halts HSBC offer for 20 pc stake in UTI Bank.
- News wire article from: Asia Africa Intelligence Wire February 2, 2004 700+ words
...cent equity share capital of UTI Bank Ltd from the public. In a notice...Hong Kong had made an offer to UTI Bank shareholders to buy 4.6 crore...acquired 14.7 per cent stake in UTI Bank last month from private equity firm, CDC Capital Partners...
- AN INSIPID DEAL? (HSBC Asia-Pacific Holdings (UK) Ltd acquires 14.6% stake in...
- News wire article from: Asia Africa Intelligence Wire July 4, 2004 700+ words
...acquired 14.6 percent stake in UTI Bank for $67.6 million from private equity investor of the UK Actis...an ATM-sharing deal with UTI Bank and also prevented its capital...market transactions with UTI Bank. Actis now left with 5...
- UTI Bank plans fund.
- Newspaper article from: Economic Times (New Delhi, India) May 21, 2006 700+ words
May 21--NEW DELHI -- Private sector UTI Bank is planning to launch a private equity fund for infrastructure financing by the end of '06. The fund will have a size exceeding Rs 1,000 crore and would concentrate...
- UTI Bank plans Rs 1,000-cr equity fund.
- Newspaper article from: Economic Times (New Delhi, India) May 19, 2006 700+ words
May 19--Private sector UTI Bank is planning to launch a private equity fund for infrastructure financing by the end of '06. The fund will have a size exceeding Rs 1,000 crore and would concentrate...
- Global News: India Puts Brakes On HSBC's UTI Bank Aspirations.(Hongkong and...
- Magazine article from: The Banker July 1, 2004 700+ words
...buy a 14.6% stake in UTI Bank, a profitable private bank, from Actis, a UK private equity firm, with an option...buy another 20% from UTI Bank's shareholders, and could have emerged as UTI Bank's single largest shareholder...
Source: HighBeam Research, INDIA'S UTI BANK TO OFFER 30-33% STAKE TO PRIVATE EQUITY FIRMS.