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At 10:30 am, the shares of UTI AMC have been buying and selling decrease by 5.64 per cent on the BSE
UTI AMC shares made a subdued debut on the indices on Monday i.e. October 11, 2020. The shares of UTI AMC listed at Rs 490.25, a reduction of Rs 63.75 or 11.51 per cent on the BSE, in comparison with the difficulty value of Rs 554. On the NSE, the shares began off the primary day at Rs 500, a reduction of 9.75 per cent. At 10:30 am, the shares of UTI AMC have been buying and selling at Rs 522.85, decrease 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 preliminary public providing (IPO) had obtained a modest response from buyers; it was subscribed 2.31 occasions, together with 2.32 occasions within the retail class, 3.34 occasions in certified institutional patrons (QIB) class and 0.93 occasions within the non-institutional buyers (NII) class.
The IPO consisted of sale of three,89,87,081 fairness shares, or 30.75 per cent stake by present shareholders, viz State Bank of India, Life Insurance Corporation, Bank of Baroda, Punjab National Bank and T Rowe Price International.
The preliminary public providing was open from September 29 to October 1, 2020, within the value band of Rs 552-554 per share. The IPO will fetch Rs 2,160 crore, on the greater finish of the value band.
Incorporated in 2002, UTI AMC is the most important asset administration firm in India with regard to whole belongings below administration. It manages fairness, liquid, revenue and cash market funds.
SBI Capital Markets, Kotak Mahindra Capital, Citigroup Global Markets, Axis Capital, ICICI Securities and JM Financial have been the e-book operating lead managers to the difficulty, whereas KFintech was the registrar.
UTI Asset Management Company (AMC) would be the third AMC to be listed on the inventory exchanges, following within the footsteps of Nippon Life India Asset Management (NAM) and HDFC AMC.
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