INSUBCONTINENT EXCLUSIVE:
UTI AMC Shares: At 10:30 am, the shares of UTI AMC were trading lower by 5.64 per cent on the BSEUTI AMC shares made a subdued debut on the
The shares of UTI AMC listed at Rs 490.25, a discount of Rs 63.75 or 11.51 per cent on the BSE, compared to the issue price of Rs 554
On the NSE, the shares started off the first day at Rs 500, a discount of 9.75 per cent
At 10:30 am, the shares of UTI AMC were trading at Rs 522.85, lower by Rs 31.25 or 5.64 per cent on the BSE and at Rs 523.10, down Rs 30.90
or 5.58 per cent on the NSE.UTI AMC's Rs 2,160 crore IPO crore initial public offering (IPO) had 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 consisted of sale of 3,89,87,081 equity shares, or 30.75 per cent stake
by existing shareholders, viz State Bank of India, Life Insurance Corporation, Bank of Baroda, Punjab National Bank and T Rowe Price
International.The initial public offering was open 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.Incorporated in 2002, UTI AMC is the largest asset management company
in India with regard to total assets under management
It manages equity, liquid, income and money market funds.SBI Capital Markets, Kotak Mahindra Capital, Citigroup Global Markets, Axis
Capital, ICICI Securities and JM Financial were the book running lead managers to the issue, while KFintech was the registrar.UTI Asset
Management Company (AMC) will be the third AMC to be listed on the stock exchanges, following in the footsteps of Nippon Life India Asset
Management (NAM) and HDFC AMC.
