India’s largest asset management company UTI AMC IPO will hit the market on 29th September 2020 to 01st October 2020, UTI AMC sets IPO price band at Rs 552-554, The offer with an issue size of 38,987,081 equity shares and hopes to raise around Rs 2160 crs at the higher end of the price band.
The bidding for the anchor book will open and close on September 28.
Check here details of UTI Asset Management Company IPO date, IPO offer price, lot size, subscription, UTI AMC IPO allotment and listings date, grey market price and other details like the company’s background and more.
UTI Asset Management Company IPO Details:
|Open Date:||Sep 29 2020|
|Close Date:||Oct 01 2020|
|Face Value:||₹ 10 Per Equity Share|
|Issue Type:||Book Building|
|Issue Size:||38,987,081 shares (INR2,152.1 – 2,159.9 crore)|
|Lot Size:||27 Shares|
|Issue Price:||₹ 552-554 Per Equity Share|
|Listing Date:||Oct 12 2020|
About UTI AMC
UTI Asset Management Company earlier was a part of the United Trust of India, the oldest mutual funds company in India. UTI was established in 1964 through an act passed in the Parliament. UTI AMC came into being in 2004 after US-64 collapsed in 2003. UTI was split into Specified Undertaking of the Unit Trust of India (SUUTI) and UTI AMC. The net-value based schemes were then transferred to UTI AMC.
UTI Asset Management Company is the largest AMC in India by Total AUM and the seventh-largest AMC in India by mutual fund QUAAM (Quarterly Average Assets Under Management).
UTI AMC has over 11 million live portfolios of a clientele that comprises institutional clients and high net worth individuals. Some of the noteworthy clients of UTI AMC are Employee Provident Fund Organisation, National Skill Development Fund, Postal Life Insurance, Shinsei UTI India Fund, and others.
The company has the highest marketshare in PMS at 45% and 2nd highest in NPS at 30%.
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UTI AMC IPO Promoters And Management:
UTI AMC is a professionally managed company and does not have an identifiable promoter in terms of SEBI.
UTI AMC IPO Subscription Status Today
Day 1(Sep 29, 2020): UTI AMC IPO subscribed 0.27 times. UTI AMC IPO received bids for 0.51 times issue size in retail, 0.00 times issue size in QIB, and 0.06 times issue size in the Non-institutional category.
UTI AMC IPO Date
UTI AMC IPO (initial public offering) subscription opens on September 29 and closes on October 1.
UTI AMC IPO Price Band
UTI AMC IPO issue price band at Rs 550-554 per equity share.
UTI AMC IPO Lot Size
The lot size of the UTI AMC IPO is minimum of 27 equity shares and in multiples of 27 equity shares thereafter.
UTI AMC IPO Minimum lot of 27 shares of Rs 14,958 and Maximum investment of 351 stocks at Rs.194454 at The face value of the equity share is Rs 10 each.
UTI AMC IPO Issue Size
The company plans to raise Rs 2,152-2,160 crore. The public issue will consist of an entire offer for sale of 3,89,87,081 equity shares by State Bank of India (SBI), Life Insurance Corporation of India (LIC), Punjab National Bank, Bank of Baroda and T Rowe Price International.
SBI, LIC and Bank of Baroda will divest 1,04,59,949 equity shares each, while PNB and T Rowe Price International are going to sell 38,03,617 equity shares each via public offer. The total offer constitutes at least 30.75 percent of total paid-up equity.
The 50 percent portion of the public issue has been fixed for qualified institutional buyers, 15 percent for non-institutional investors and the remaining 35 percent has been set aside retail investors. The company has also reserved 2 lakh equity shares for its eligible employees.
UTI Asset Management Company IPO Objects
The company aims to raise Rs 2,159.88 crore via IPO and all the money will go to above-mentioned shareholders.
UTI AMC IPO GMP (Grey Market Premium)
As per the market conditions we can expect a good GMP for UTI AMC IPO with 20% listing gain.
UTI AMC IPO Limited IPO Review:
UTI AMC IPO Subscribe for Short Term and Long Term View.
UTI Asset Management Company Financial
UTI AMC started as Unit Trust of India, the nation’s first mutual fund, more than 55 years ago. As of Sept. 30, 2019, its total average assets under management for domestic mutual fund schemes stood at Rs 1.54 lakh crore. Other assets under management including portfolio management services and National Pension Scheme were Rs 6.25 lakh crore. The asset manager has a net worth of Rs 2,711.2 crore
UTI Asset Management Company Stock Listed on NSE & BSE
UTI AMC IPO equity shares after the completion of a public issue will be listed on the National Stock Exchange and on BSE Limited.
UTI Asset Management Company IPO BRLM
UTI AMC IPO book running lead managers (BRLM) appointed for the public issue are Kotak Mahindra Capital Company, Axis Capital, Citigroup Global Markets India, DSP Merrill Lynch, ICICI Securities, JM Financial and SBI Capital Markets are the book running lead managers to the issue, while Kfin Technology Private Limited Assignments is the registrar.
UTI AMC IPO Tentative Timetable
|Bid/Offer Launch date||September 29, 2020|
|Bid/Offer Last date||October 01, 2020|
|Basis of Allotment finalization date||October 07, 2020|
|Initiation of Refunds||October 08, 2020|
|Credit of Shares to Demat Acct||October 09, 2020|
|IPO Shares Listing Date||October 12, 2020|
UTI AMC IPO Allotment Status Date and Listing
The company will finalise ipo allotment on October 7, while the refunds or unblocking of funds from ASBA accounts which did not get any share in allotment will take place on October 8.
Shares will be credited to accounts of eligible investors on October 9 and the trading in shares will commence from October 12.
UTI Asset Management Company IPO allotment status will be available on Kfin Technology Private Limited website.
How to Apply the UTI Asset Management Company IPO Online and Offline?
You can apply UTI AMC IPO via ASBA online via your bank account. You can apply ASBA online via UPI through your stock brokers. You can also apply offline via your stock brokers by filling up the offline form.
What is UTI AMC IPO Allotment Date?
UTI Asset Management Company IPO allotment date is 7 October 2020
How to Check UTI Asset Management Company IPO Allotment Status?
UTI Asset Management Company IPO allotment date is 7 October 2020. You can check Angel Broking IPO allotment status on Kfin Technology Private Limited website.
What is UTI AMC Stock Listing Date?
UTI Asset Management Company IPO Stock listing date is 12 October 2020. The IPO to list on NSE and BSE.