UTI AMC IPO Review: Should you subscribe?

Dates, Price band, Lot size, Risks, Review and broker recommendations etc.

UTI AMC Company Info

UTI Asset Management Company

UTI Asset Management Company Limited was carved out of the erstwhile Unit Trust of India as a Securities and Exchange Board of India (SEBI) registered mutual fund from 1 February 2003. The Unit Trust of India Act 1963 was repealed, paving way for the bifurcation of Unit Trust of India into: Specified Undertaking of Unit Trust of India and UTI Mutual Fund.

It is the oldest and one of the largest mutual funds in India with over 10 million investor accounts under its 230 domestic schemes/plans as of 30 September 2017.

It has a nationwide distribution network, which is spread across the length and breadth of the country. Its distribution network comprises over 48000 AMFI/NISM certified Independent Financial Advisors and 174 Financial Centers.

It has been the pioneer for launching various schemes viz. Unit Linked Insurance Plan (ULIP) with life and accident cover (Launched in 1971), Mastershare (Launched in 1986), India’s first Offshore Fund – India fund (Launched in 1986), Wealth Builder Fund, the first of its kind in the Indian mutual fund industry combining different asset classes i.e. equity and gold which are lowly correlated.

Proceeds from the IPO will be used:

  • To meet business working capital requirements
  • To meet the general corporate purpose
  • To meet IPO issue expenditures

UTI AMC IPO Dashboard

Issue Details

ItemValue
Issue Size2159.88 Cr
Face Value10/- per Equity Share
IPO Price552 – 554
Lot Size27
Minimum Lots1
Maximum Lots13

Lot Size and Price

LotsSharesAmount
12714,958
133511,94,454

Key Dates

Date TypeDate
Bid Open29/09/2020
Bid Close01/10/2020
Allotment Finalization07/10/2020
Initiation of Refunds08/10/2020
Credit of Shares09/10/2020
Listing Date12/10/2020

Promoter Holding

HoldingPercentage
Pre-Issue98.96%
Post-Issue

Investor Quota and Shares Offered

Investor TypeQuotaShares on Offer
QIB50%1,94,93,540
NII15%58,18,062
RII (Retail)35%1,36,45,480
Total100%27,350,957

Final Subscription Status

DayDay 3
QIB3.34x
NII0.93x
RII (Retail)2.32x
Employee1.34x
Total2.31x

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