UTI AMC IPO from UTI Mutual Fund, IPO Review, Dates, Price Bands, Market Lot, UTI AMC IPO Grey Market Price Details
The UTI Mutual Fund IPO is one of the latest IPO from the UTI Asset management company that is in compliance with the SEBI. Let’s have a read here about the IPO release date, IPO offers price, IPO subscription, IPO allotment, grey market price, and other details.
UTI AMC to launch Rs 2159 crore-IPO on September 29; SBI, LIC, T Rowe to divest stake. UTI Asset Management Company will launch its initial public offering for subscription on September 29. The company plans to raise ₹2,159.88 Cr via the issue, sources pivy to the matter told Moneycontrol.
The UTI is an asset management company (AMC) that was earlier a part of the United Trust of India. The United Trust of India Mutual Fund is one of the oldest as well as the largest Mutual funds company in India.
About UTI AMC
UTI came into existence in 1964 through an act of Parliament. Its first scheme was US-64. In 2003, when US-64 collapsed, UTI was split into the Specified Undertaking of the Unit Trust of India (SUUTI) and UTI AMC. The net asset value-based schemes were shifted to UTI AMC, while large equity holdings and other assets including real estate and 25 assured-return schemes went to SUUTI. As of March 31, UTI Mutual Fund had 195 schemes in operation with average assets under management (AUM) at Rs 1.5 lakh crore.
UTI AMC is today a household name in India and has a wide portfolio to suit the varied needs of investors supported by industry-led best practices, long-term vision, and shareholder values. With 150 branches, 47,000 highly trained IFAs, 320 Chief Agents and Business Development Associates and over 1 crore investor accounts, UTI AMC is one of the leading financial institutions with a pan Indian presence.
UTI AMC with 150 branches and over 10 million investor accounts has four subsidiaries — UTI Venture Fund Management, UTI International, UTI Retirement Solutions and UTI Capital. Its net worth as of March 31 was Rs 2,408 crore, up from Rs 2,173 crore in the previous year. Profit after tax was Rs 348 crore as of March 31 against Rs 341 crore in the previous year.
UTI Mutual Fund Details
| Mutual Fund | UTI Mutual Fund |
| Setup Date | Feb-01-2003 |
| Incorporation Date | Nov-14-2002 |
| Sponsor | State Bank of India / Punjab National Bank / Bank of Baroda / Life Insurance Corporation |
| Trustee | UTI Trustee Co (P) Ltd |
| Chairman | N.A |
| CEO / MD | Mr. Leo Puri |
| CIO | N.A |
| Compliance Officer | Mr. Vivek Maheshwari |
| Investor Service Officer | Ms. Nanda Malai |
| Assets Managed | Rs. 154229.01 crore (Sep-30-2019) |
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Summary of UTI Mutual Fund IPO
UTI Asset Management Co. (UTI AMC):- UTI AMC is likely to come out with a ₹ 3,000-crore IPO. If UTI’s IPO materializes, then it will be the third AMC to be listed on the bourses behind Reliance Nippon Life AMC and HDFC AMC.
The company is managed by some of India’s top banks and financial institutions, so the decision to go for an IPO and the process of filing the Draft Red Herring Prospectus is not a single-handed decision.
UTI’s four domestic shareholders — LIC, State Bank of India (SBI), Punjab National Bank (PNB) and Bank of Baroda (BoB) — hold 18.5 percent stake each and also have their own AMCs. Hence the cross-holding rule applies to all the four. US asset manager T Rowe Price holds the remaining 26 percent stake.
“Documentation work will start once the investment bankers are appointed. The valuation and the IPO size will be finalized subsequently,” said another person familiar with the development. “The bankers will be appointed in the next couple of weeks while the IPO is likely to be launched by March-April 2020.”
UTI AMC IPO – Issue Details:
| Issuer | UTI Asset Management Company | |
| Issue Type | 100% Book Built Issue IPO | |
| Issue Period | Issue Opens: Sep 29, 2020 | |
| Issue Closes: OCT 1, 2020 | ||
| Price Brand | ₹552 to ₹554 per equity share | |
| Issue Size | ₹2,159.88 Cr | |
| Face Value | Rs. 10 per Equity Share | |
| Bit Lot | 27 Equity Shares and in multiples thereof | |
| Maximum Bid amount for Retail | Rs. 2 Lakhs | |
| QIB | 50% of the issue size | |
| NIB | 15% of the issue size | |
| Retail Individual Bidders | 35% of the issue size | |
| Employee Reservation | X Equity Shares (Rs. – Crs) | |
| Employee Discount | ₹54/ | |
| Listing | NSE & BSE | |
| Registrar | ||
| Book Running Lead Managers | ||
| Grey Market Price | UTI AMC IPO Grey Market Premium | |
| Upcoming IPO 2020 | Upcoming NCD 2020 |
UTI AMC IPO Dates & Price Band
- IPO Open: Sep 29, 2020
- IPO Close: OCT 1, 2020
- IPO Size: Approx ₹2,159.88 Cr
- Face Value: ₹10 Per Equity Share
- Price Band: ₹552 to ₹554 per equity share
- Listing on: BSE & NSE
- Retail Portion: 35%
- Equity: 38,987,081 Shares
UTI AMC IPO Market Lot
- Shares: Apply for 27 Shares (Minimum Lot Size)
- Amount: ₹14,958—
UTI AMC IPO Allotment & Listing
- The basis of Allotment: Oct 7, 2020
- Refunds: Oct 8, 2020
- Credit to Demat accounts: Oct 9, 2020
- Listing: Oct 12, 2020
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UTI AMC earnings profile and asset quality
Keen investors are very speculative about UTI AMC earning profile and asset quality.
So, here we have presented the UTI AMC earning profile.
The return on the asset has been around 2.4 percent in the last three years, supported by the healthy interest margin (NIM) and the low credit cost.
The asset quality of UTI AMC is affordably healthy with gross nonperforming assets at two percent as on September 30, 2018.
UTI AMC Shareholding Pattern:
| Shareholder(2018-19) | No. of Shares(Cr) | % |
| State Bank of India | 2.3125 | 18.24% |
| Life Insurance Corporation of India | 2.3125 | 18.24% |
| Bank of Baroda | 2.3125 | 18.24% |
| Punjab National Bank | 2.3125 | 18.24% |
| T. Rowe Price International Limited | 3.2965 | 26% |
Financials of UTI AMC:
| Particulars( Cr) | 2019 | 2018 | 2017 | 2016 |
| Gross Income | 1008 | 1018 | 853 | 749 |
| Gross Expense | 515 | 537 | 452.7 | 407.29 |
| PBT | 492 | 481 | 398.5 | 341.82 |
| TAX | 143 | 140 | 107.7 | 109.77 |
| PAT | 348 | 341 | 290 | 232.05 |
| EPS | 27.48 | 26.93 | 22.94 | 18.33 |
| Paid-up Capital | 126.79 | 126.79 | 126.79 | 126.79 |
| Net Worth | 2407 | 2172 | 1890 | 1578 |
Comparison With Peers:
| Company | FV | Share Price | MCap (cr) | AUM(cr) | MCap/AUM |
| Reliance Nippon | 10 | 282 | 17,314 | 2,09,484 | 8% |
| HDFC AMC | 5 | 2610 | 55,509 | 3,75,560 | 15% |
| UTI AMC | 10 | 780 | 9889 | 1,59,764 | 6% |
UTI AMC IPO Review & Ratings
| UTI Mutual Fund IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 8.3/10 |
| Industry Ranking | 8.2/10 |
| Company Background | 8.1/10 |
| Company Reputation | 8.0/10 |
| Competitive Edge | 8.2/10 |
| Financial Statements | 8.2/10 |
| Popularity Index | 8.1/10 |
| Promoters Reputation | 8.0/10 |
| Retail Appetite | 8.1/10 |
| Top Brokers Review | 8.2/10 |
| Overall Ratings | 8.1/10 |
| Star Ratings | ★★★★☆ |
How to Apply for UTI AMC IPO?
If you have a Demat account, most banks offer the online IPO application. You can also contact the broker to apply for in UTI AMC IPO?
Most banks including the SBI bank, ICICI Bank, Axis, and Kotak bank allow the customer to apply in IPO using the Demat account.
- How to Apply UTI AMC IPO Through ASBA?
- How to Apply UTI AMC IPO through Zerodha?
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- How to Apply UTI AMC IPO through HDFC Bank Netbanking?
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- ➡️How To Apply Angel IPO in Kotak Bank Net banking?
How to Check UTI AMC IPO Allotment Status?
OR
Log on to https://ris.kfintech.com/ipostatus/
# Option 1: BSE Website:
- Go to BSE Website
- Check box “Equity”
- Select IPO Name UTI AMC
- Type Your Application Number
- Type Your Pan Number
# Option 2: KFintech Website:
- Go to KFintech Website
- Select IPO Name UTI AMC
- Select Option from PAN Number, Application Number or Demat Account Number
- As per selection add PAN Number, Application Number or Demat Account Number
# Option 3: in Your Demat Account:
- Call Your Broker or Login to Your Demat Account / Trading Account
- Check the stock is credited to your account or not
# Option 4: in Your Bank Account:
- Login to your Bank Account
- Check the Amount is debited or released
UTI ASSET MANAGEMENT COMPANY LIMITED COMPANY INFORMATION
DIRECTORS
- Mr. D K Mehrotra, Non-Executive Chairman, and Independent Director
- Mr. James S. Riepe Associate Director
- Mr. Flemming Madsen Associate Director
- Mr. M V Suryanarayana Independent Director
- Mr. N. Seshadri Independent Director
- Mrs. Uttara Dasgupta Independent Director
Acting Chief Executive Officer:- Mr. Imtaiyazur Rahman
Company Secretary:- Mr. Kiran Vohra
Auditors:- S. Bhandari & Co. Chartered Accountants
Bankers:- Axis Bank Ltd.
Management team
- Mr. Imtaiyazur Rahman – Whole Time Director of UTI AMC Ltd.
- Mr. Vetri Subramaniam – Group President& Head-Equity
- Mr. Amandeep Chopra – Group President& Head-Fixed Income
UTI AMC Contact Details
Company Address:
Registered Office:
UTI Tower, ‘Gn’ Block, Bandra-Kurla Complex,
Bandra (East), Mumbai – 400 051.
Tel:-:
- 1800 26 61230 – Toll-Free
- (+91) 022 6227 8000 – Non-Toll Free
The IPO price and band dates will be added as it will be officially announced.
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UTI AMC IPO FAQs:
The UTI Mutual Fund IPO is one of the latest IPO from the UTI Asset management company (UTI AMC) that is in compliance with the SEBI.
The UTI is an asset management company (AMC) that was earlier a part of the United Trust of India. The United Trust of India Mutual Fund is one of the oldest as well as the largest Mutual funds company in India.
The issue will be open in opens on Sep 29, 2020, and closes on Oct 1, 2020.
You can apply UTI AMC IPO via ASBA online via your bank account. You can apply ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.
Here are the steps to apply under shareholder category through Zerodha Console:
Login to Zerodha Console
Click on Portfolio tab
Choose ‘UTI IPO’ from the drop-down list
Select the IPO you want to invest
Enter your UPI ID and verify the details
Select the Investor Type as ‘RII & Individual’
Put Bid and Price in the box
Tick on the checkbox
Click on Submit button
The finalization of Basis of Allotment for UTI AMC IPO will be done on Oct 7, 2020, and the allotted shares will be credited to your demat account by Oct 9, 2020. Check the UTI AMC IPO allotment status.
The UTI AMC IPO listing date is Oct 12, 2020. The tentative date of UTI AMC IPO listing is Oct 12, 2020.
The Grey Market Premium (GMP) price of UTI AMC IPO is approx in between Rs.3000 – 5000/- at the moment.. Check here for UTI AMC GMP.
Yes, you can invest in UTI AMC IPO via UPI. If applying online you can use UPI as well as ASBA any one process.
UTI AMC IPO lot size and the minimum order quantity is 19. Please check again later.
UTI AMC IPO price for retail investors is ₹552 to ₹554 per equity share.
I am shareholder of SBI, whether i can used shareholder quota in UTIAMC IPO.
No shareholder quota.