UTI Asset Management Company IPO - Sept 29 to Oct 1 | Espresso

EspressoLogy

UTI Asset Management Company IPO - Sept 29 to Oct 1

September 28, 2020
UTI Asset Management Company IPO - Sept 29 to Oct 1

UTI Asset Management Company Limited is coming out with a fresh public issue to raise Rs 2,160 crores from the market.

Key details of the issue:

  • Issue opens – Sept 29, 2020
  • Issue closes – Oct 1, 2020
  • Issue size – Rs 2,160 crores
  • Price band – Rs 552 – 554

And here are some details of the company and further details on the UTI Asset Management Company Limited issue:

Company Details

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 mutual fund QAAUM as of June 30, 2020, according to CRISIL. As of June 30, 2020, the Company had the largest share of its monthly average AUM attributable to B30 cities of the top ten Indian asset management companies by QAAUM as of June 30, 2020, according to CRISIL.

The Company caters to a diverse group of individual and institutional investors through a wide variety of funds and services. It manages the domestic mutual funds of UTI Mutual Fund; provides portfolio management services (PMS) to institutional clients and high net worth individuals (HNIs); and manages retirement funds, offshore funds and alternative investment funds.

UTI AMC has a national footprint and offers its schemes through a diverse range of distribution channels. As of June 30, 2020, its distribution network includes 163 UTI Financial Centres (UFCs), 257 Business Development Associates (BDAs) and Chief Agents (CAs) – 40 of whom operate Official Points of Acceptance (OPAs) and 43 other OPAs, most of which are in each case located in B30 cities.

Its IFAs channel includes approximately 53,000 Independent Financial Advisors (IFAs) as of June 30, 2020.

UTI AMC clients include domestic individual investors, corporate and other institutional investors and banks and other financial institutions, trusts and non-resident Indians (NRIs).

The Company manages 153 domestic mutual fund schemes, comprising equity, hybrid, income, liquid and money market funds, as of June 30, 2020.

Issue Size

Rs 2,160 crores

Issue Break-up

  • QIB – 50% of the offer – Rs 1,074 crores
  • NIB – 15% of the offer – Rs 322 crores
  • RET – 35% of the offer – Rs 752 crores

Employee Reservation

2,00,000 equity shares (? 11 crores)

Listing

NSE and BSE

Registrar

KFin Technologies Private Limited

UPI

All retail applications through brokers are compulsorily in UPI mode

Read more on Espresso: Investing in an IPO as a retail investor

Team Espresso
by Team Espresso

We care that you succeed

Bringing readers the latest happenings from the world of Trading and Investments specifically and Finance in general.