Bank of Baroda has decided to sell its 1.04 crore sales in the Initial public offering of UTI Asset Management Co Ltd. The company held a meeting to discuss IPO and approved the participation of Bank of Baroda (BoB) in the proposed initial public offering.

The company will offer around 1,04,59,949 equity shares. While SBI has decided to sell up to 8.25% shares in UTI AMC.

State Bank of India (SBI), Punjab National Bank, Life Insurance Corporation of India & Bank of Baroda hold each hold 18.5% stack in UTI AMC.