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UTI AMC Public Offer To Open On Tuesday. Here’s All You Need To Know

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Investors can bid fora minimal one lot of 27 shares and in multiples thereof, as much as 13 heaps.

The Rs 2,160 crore preliminary public providing (IPO) of UTI Asset Management Company (AMC) will open for subscription on Tuesday, i.e. September 29, 2020. The situation can be open for 3 buying and selling days, from September 29 to October 1, 2020. The bidding for anchor buyers will happen on September 28. The shares of UTI AMC are prone to be listed on the BSE and NSE, on October 12.

The firm has mounted a value band for its public provide at Rs 552-554 a share. At the upper finish of the worth band, the IPO will garner Rs 2,160 crore.

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.

The IPO includes sale of three,89,87,081 fairness shares, or 30.75 per cent stake by the present shareholders, together with State Bank of India, Life Insurance Corporation, Bank of Baroda, Punjab National Bank and T Rowe Price International. The goal of the provide is to checklist the fairness shares on the inventory exchanges.

Investors can bid for a minimal one lot of 27 shares and in multiples thereof, as much as 13 heaps.

SBI Capital Markets, Kotak Mahindra Capital, Citigroup Global Markets, Axis Capital, ICICI Securities and JM Financial are the e-book working lead managers for the provide, whereas KFintech is the registrar.

Incorporated in 2002, UTI AMC is the most important asset administration firm in India by way of complete property below administration. It manages a mixture of fairness, hybrid, revenue, liquid and cash market funds.

UTI AMC public provide can be tenth this 12 months, after SBI Card, Rossari Biotech, Mindspace Business Parks REIT, Happiest Minds Technologies, Route Mobile, Compute Age Management Services, Chemcon Speciality Chemicals, Angel Broking and Likhitha Infrastructure.



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