asset management company UTI AMC Public Offer To List On BSE, NSE On Monday i.e. October 12, 2020

The initial public offering was open for three trading days in the price band of Rs 552-554 per share.

UTI AMC Rs 2,160 crore IPO crore initial public offering (IPO) will list on the BSE and NSE on Monday i.e. October 11, 2020 at 10:00 am. The public issue received a modest response from investors; it was subscribed 2.31 times, including 2.32 times in the retail category, 3.34 times in qualified institutional buyers (QIB) category and 0.93 times in the non-institutional investors (NII) category.

The IPO comprised sale of 3,89,87,081 equity shares, or 30.75 per cent stake by existing shareholders, including the likes of State Bank of India, Life Insurance Corporation, Bank of Baroda, Punjab National Bank and T Rowe Price International.

The initial public offering was open for three trading days, from September 29 to October 1, 2020, in the price band of Rs 552-554 per share. The IPO will fetch Rs 2,160 crore, at the higher end of the price band.

UTI Asset Management Company (AMC) will be the third AMC to be listed on the stock exchanges, following Nippon Life India Asset Management (NAM) and HDFC AMC.

SBI Capital Markets, Kotak Mahindra Capital, Citigroup Global Markets, Axis Capital, ICICI Securities and JM Financial are the book running lead managers, and KFintech is the registrar for the offer.

Incorporated in 2002, UTI AMC is the largest asset management company in India in terms of total assets under management. It manages equity, hybrid, liquid, income and money market funds.

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