UTI AMC IPO : Study before subscribing

UTI AMC IPO : STUDY BEFORE SUBSCRIBING

UTI AMC IPO is one of the most awaited IPOs of 2020. At a point of time, the question ‘When is the UTI AMC IPO coming?’ topped the google search. Finally it is set to enter the market this week and is already getting great response in the grey market. This IPO is expected to be a hit with all market participants. If you have heard mutual funds you have heard about this company. Here’s everything you need to know about UTI AMC IPO.

About UTI AMC

UTI AMC Ltd incorporated in 2002 is in the business of managing the domestic mutual funds of UTI Mutual Fund, provides portfolio management services to institutional clients and high  net worth individuals, retirement funds, offshore funds and alternative investment funds.

It is the second largest AMC in India in terms of Total AUM and eight largest asset management company in India in terms of mutual fund QAAUM as of June 30, 2020, according to CRISIL.

It also had the largest share of monthly average AUM attributable to B30 cities of the top ten Indian asset management companies by QAAUM.

Company has four sponsors ,State Bank of India, Life Insurance Corporation of India, Punjab National Bank and Bank of Baroda, each of which has the Government of India as a majority shareholder. T. Rowe Price Group, Inc., a global asset management company, is our other major shareholder.

UTI AMC IPO Details

OPENS ON:SEPT 29, 2020
CLOSES ON:OCT 1, 2020
Price band:Rs 552- Rs 554
Lot size:27 shares
1 lot costing:Rs 14,958
Listing on:BSE, NSE
Issue size:Offer for sale Rs 2159.88 cr
Offer For Sale:38,987,081 Eq Shares by SBI, LIC, BOB, PNB, T Rowe Price Group
Will list on exchange on Oct 12, 2020

Interesting facts about UTI AMC IPO:

  • UTI AMC has been active in the asset management industry for more than 55 years, having established the first mutual fund in India.
  • The management fees from domestic mutual funds accounted for 72.7% of total income for the six-month period ended September 30, 2019.
  • Company manages 178 domestic mutual fund schemes, comprising equity, hybrid, income, liquid and money market funds as of September 30, 2019.
  • As of September 30, 2019, distribution network includes 163 UTI Financial Centres, 273 Business Development Associates and Chief Agents (46 of whom operate Official Points of Acceptance) and 33 other OPAs, most of which are in each case located in B30 cities.

Marwadi Shares & Finance Ltd have a ‘SUBSCRIBE’ recommendation for UTI AMC IPO. To apply for UTI AMC IPO, you can do it from our website Marwadi Shares & Finance Ltd.

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