StanChart to take 49% stake in UTI Sec - Video

StanChart to take 49% stake in UTI Sec

CLICK HERE FOR VIDEO

STCI and Standard Chartered Plc today signed a deal for Standard Chartered to acquire 49% stake in UTI Securities for Rs 147 crore.

STCI currently holds 100% of UTI Securities having acquired it in 2006 from the Administrator of the specified undertaking of the Unit Trust of India.

Under the agreement, the parties have provided for necessary options to raise Standard Chartered's stake in UTI Securities in stages to 100% by 2010, subject to necessary regulatory approvals.