UTI Mutual Funds IPO may hit the market in April

UTI Mutual Funds Initial Public Offer (IPO) is likely to hit the stock market in April 2008, reports Business Standard.

The mutual fund house, which had earlier fixed the IPO price band, is likely to cut the offer price of its 48.5 million shares IPO, due to the sharp fall in the stock markets.

State-run UTI MF suffered a dip in its assets in February, which stood at Rs 524.64 billion compared to Rs 526.56 billion in the previous period.