Master Shares from UTI

'Master Shares' from UTI Hansavivek UNIT TRUST OF INDIA has introduced one more instrument to attract the community's savings. On August 28, UTI announced the launching of Mutual Fund Unit Scheme with an offer of five crore 'Master Shares' of Rs 10 each at par. The Master Shares will be put on the market on September 19, and will remain on tap for a month, but the issue may be closed earlier if it is over subscribed. The total notified amount of the Master Share issue is Rs 50 crore with a right to retain subscriptions upto Rs 75 crore.