UTI Asset Management Company (UTI AMC) has allotted 17,158 equity shares to employees. The decision comes from its Nomination and Remuneration Committee.
Each equity share holds a face value of Rs 10. Furthermore, the newly allotted equity shares will have equal standing in all aspects with the existing equity shares. This allocation is a result of eligible employees exercising options under the ‘UTI AMC Employee Stock Option Scheme – 2007,’ as stated in the company’s exchange filing.
Following the allocation, the company’s issued and paid-up share capital will go up from Rs 1,27,02,27,680 (comprising 12,70,22,768 equity shares with a face value of Rs 10 each) to Rs 1,27,03,99,260 (comprising 12,70,39,926 equity shares with a face value of Rs 10 each).
UTI AMC was established in 2002, and it manages mutual funds, offering a diverse range of investment products for retail and institutional investors. It is a trusted name in wealth creation, providing innovative and customer-centric solutions.
With a robust portfolio, it caters to the dynamic needs of investors across equity, debt and hybrid funds. The company emphasises transparency, ethical practices and financial inclusion. UTI AMC is committed to delivering long-term value, aligning with its mission to be the most preferred asset manager for a broad spectrum of investors in India.
The company recently named Vinay Lakhotia as the chief financial officer (CFO), effective 1 October. Lakhotia brings extensive experience and a demonstrated history in finance to UTI Asset Management. With more than 22 years in mutual funds operations, fund accounting, budgeting and planning, internal control system design, process automation, risk management, audit, compliance, due diligence, legal and taxation, investor relations, and business development, Lakhotia is well equipped to contribute to the company’s financial strategies and overall success.