As the IPO season continues gaining momentum, UTI Asset Management Company is launching its IPO on September 29, 2020. It is one of India’s largest asset management companies and its IPO is bound to incite interest in investors. Here is a look at all the details of the IPO.
You can apply for UTI Asset Management IPO on Groww easily via UPI. Go to IPO (login to your account). There you would be able to see the list of all open IPOs. Select UTI AMC IPO and click on ‘Apply’. You would be able to invest in this IPO on 29th September 2020.
Read More: Steps to Invest in IPO on Groww
|IPO Date||September 29, 2020 to October 01, 2020|
|Issue Type||Book Built Issue IPO|
|Issue Size||3,89,87,081 Equity Shares of Rs.10 (totaling up to around Rs.3,000.00 Cr)
Offer for sale by SBI – Up to 10,459,949 Equity Shares
Offer for sale by LIC – Up to 10,459,949 Equity Shares
Offer for sale by BOB – Up to 10,459,949 Equity Shares
Offer for sale by PNB – Up to 3,803,617 Equity Shares
Offer for sale by TRP – Up to 3,803,617 Equity Shares
|Face Value||Rs.10 per equity share|
|IPO Price||Rs 552-554 per equity share|
|Min Order Quantity||27|
|Listing At||BSE, NSE|
|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|
|Category||Number of shares||Amount (in crores)|
UTI Asset Management Company Limited (UTI AMC) is the second-largest asset management company in India in terms of the total assets under management as of June 30, 2020 (CRISIL report). With respect to the Quarterly Average Assets Under Management (QAAUM), UTI AMC is the eighth-largest in the country. The successor to The Unit Trust of India, the company has been active in the asset management space for more than 55 years and carries the pride of being the first mutual fund in India. The four major sponsors of UTI AMC are:
UTI AMC has a huge distribution network including 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. It also has a huge Independent Financial Advisor (IFA) network of over 53,000 IFAs.
The company manages domestic mutual funds of UTI Mutual Fund, offers portfolio management services (PMS) to high-net individuals (HNIs) and institutional investors, manages retirement funds, offshore funds, and alternative investment funds.
UTI AMC proposes to utilize the net proceeds from this issue towards funding the following objects:
Here is a quick look at some important information about UTI Asset Management Company Limited:
|for quarter-ended 30-Jun-20||for quarter-ended 31-Mar-20||for quarter-ended 31-Mar-19||for quarter-ended 31-Mar-18|
|Profit After Tax||101.07||276.48||347.92||405.09|
All amounts in INR crores
The company is a professionally managed company and does not have an identifiable promoter in terms of SEBI ICDR Regulations and the Companies Act.
While UTI Asset Management Company Limited is a famous name in the mutual fund industry, before investing in its IPO, ensure that you read through the company’s financials and the Red Herring Prospectus (RHP) carefully.