Home / Markets / Ipo /  UTI AMC shares list at a discount as compared to issue price

Shares of UTI AMC listed today at a discount as compared to issue price of 554 per share. Shares listed at 500 on BSE. The initial public offer of UTI Asset Management Company (AMC) was subscribed 2.31 times. The 2,160-crore initial public offer received bids for 6,31,02,348 shares against 2,73,50,957 shares on offer.

The retail investor category was subscribed 2.32 times while segment meant for qualified institutional buyers was subscribed 3.34 times and non-institutional investors 0.93 times. Ahead of the IPO, UTI AMC had raised 645 crore from anchor investors.

In comparison, shares of Mazagon Dock today listed a premium on exchanges.

UTI AMC is the third asset management company to get listed on the stock exchanges after Nippon Life India Asset Management and HDFC AMC.

Kotak Mahindra Capital Company, Axis Capital, Citigroup Global Markets India, DSP Merrill Lynch, ICICI Securities, JM Financial and SBI Capital Markets are the managers to the offer.

UTI AMC manages the domestic mutual funds of UTI mutual fund, provides Portfolio Management Services (PMS) to institutional clients and high networth individuals (HNIs) and manages retirement funds like National Pension Scheme (NPS). The AMC also manages offshore funds and alternative investment funds. UTI AMC provides PMS to Employees Provident Fund Organization (EPFO).

UTI AMC is the second-largest asset management company in India in terms of total AUM and the eighth-largest asset management company in India in terms of domestic mutual fund QAAUM as of June 30, 2020.

The IPO of UTI AMC comprised sale of 3,89,87,081 equity shares or 30.75% by existing shareholders, including SBI, LIC, Bank of Baroda and T Rowe Price International. (With Agency Inputs)

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