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According to media reports, UTI AMC has received approval from SEBI to launch an initial public offer, thereby becoming the third fund house to get listed on BSE and NSE after HDFC AMC and Nippon India MF. The AMC’s IPO comprises sale of 3.90 crore equity shares by existing shareholders, which includes SBI, LIC, Bank of Baroda (BoB), Punjab National Bank (PNB) and T Rowe Price International. SBI, LIC, PNB and BoB hold 18.5% stake each in UTI AMC. The U.S.-based T Rowe Price holds 26% stake in the AMC. While, SBI, LIC and BoB are planning to sell 1.04 crore shares each, PNB and T Rowe Price International are planning to offload 38.03 lakh shares each.