Tata group’s mutual funds business is stuck

The failure to acquire UTI AMC is a blow to its efforts to rev up the financial services side of the group.

In December 2022, the Tata group was in talks to acquire a substantial stake in UTI Asset Management Co. A deal would have catapulted the group’s mutual fund arm, Tata Mutual Fund, to fourth largest fund house in the country. 

The talks have since fallen through over differences on valuation, say three executives aware of the developments, asking not to be named. With their collapse, the Tata group may have missed an opportunity to propel at least one of its struggling financial services businesses to being a force in the industry. 

As part of the deal, Tata Sons, the group’s …

Author

Furquan Moharkan

Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.

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furquan@mailtmc.com

Delhi