Unit Trust of India and the New Issue Market

THE object of this paper is to examine the role of the Unit Trust of India (UTI) in the New Issue Market (N.I.M.) in India. Its modus operand in this part of the industrial securities market is in the form of underwritirig. The nature of underwriting of corporate issues of capital by the UTI is 'firm', that is, the UTI underwrites the capital issues of companies by way of a firm commitment to invest upto the amount underwritten.