Indian fund firm UTI looks to relaunch $500 mln IPO

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HONG KONG, May 21 (Reuters) - UTI Asset Management, India's second-largest mutual fund firm, plans to revive a roughly $500 million IPO that had been delayed from earlier this year, with management scheduled to meet investors next week to gauge market interest, according to people familiar with the deal.

UTI executives will meet investors on Monday in Mumbai and on Tuesday in Singapore, followed tentatively by presentations in Hong Kong, London and New York.

UTI had hoped to complete its domestic listing in April but delayed the deal as India's stock market went into freefall, with the benchmark Sensex .BSESN plunging 23 percent in the first three months of the year. Since the start of April, however, the index has risen 10 percent.

Citigroup (C.N), Enam Securities and JM Financial (JMSH.BO) are sponsoring the deal. No terms or deal schedule were immediately available. (Reporting by Tony Munroe; editing by Anne Marie Roantree)