Traders can bid fora minimal one lot of 27 shares and in multiples thereof, as much as 13 tons.
The Rs 2,160 crore preliminary public providing (IPO) of UTI Asset Administration Firm (AMC) will open for subscription on Tuesday, i.e. September 29, 2020. The difficulty can be open for 3 buying and selling days, from September 29 to October 1, 2020. The bidding for anchor traders will happen on September 28. The shares of UTI AMC are more likely to be listed on the BSE and NSE, on October 12.
The corporate has mounted a worth band for its public provide at Rs 552-554 a share. On the larger finish of the value band, the IPO will garner Rs 2,160 crore.
UTI Asset Administration Firm (AMC) would be the third AMC to be listed on the inventory exchanges, following within the footsteps of Nippon Life India Asset Administration (NAM) and HDFC AMC.
The IPO includes sale of three,89,87,081 fairness shares, or 30.75 per cent stake by the prevailing shareholders, together with State Financial institution of India, Life Insurance coverage Company, Financial institution of Baroda, Punjab Nationwide Financial institution and T Rowe Worth Worldwide. The target of the provide is to checklist the fairness shares on the inventory exchanges.
Traders can bid for a minimal one lot of 27 shares and in multiples thereof, as much as 13 tons.
SBI Capital Markets, Kotak Mahindra Capital, Citigroup World Markets, Axis Capital, ICICI Securities and JM Monetary are the e book operating lead managers for the provide, whereas KFintech is the registrar.
Integrated in 2002, UTI AMC is the most important asset administration firm in India by way of complete belongings beneath administration. It manages a mixture of fairness, hybrid, earnings, liquid and cash market funds.
UTI AMC public provide can be tenth this 12 months, after SBI Card, Rossari Biotech, Mindspace Enterprise Parks REIT, Happiest Minds Applied sciences, Route Cellular, Compute Age Administration Providers, Chemcon Speciality Chemical compounds, Angel Broking and Likhitha Infrastructure.
