UTI Mutual Fund's UTI Sunder has raised Rs 388 crore during its initial public offer period (July 7 to July 11, 2003). It is a passively managed open-ended Exchange Traded Fund.
The scheme would be listed on NSE from July 16, 2003. Minimum trading lot for Sunder share in the secondary market will be 1 unit. The value of each unit of Sunder will be approximately 1/10th of S&P CNX Nifty Index Value. An investor can buy its units in the NSE like any other stock. The NAV of Sunder units would be declared on a daily basis and the scheme is now reopen for creation.