As the IPO season continues, UTI Asset Management Company is launching its IPO on September 29, 2020. It is one of India’s largest asset management companies and its IPO is bound to incite interest in investors. the company aims to raise ₹ 2159.88 crores through IPO.
UTI Asset management company
It is India’s most trusted Wealth creators and always has the interest of its investors in its heart. UTI AMC has completed 50 years as India’s leading Financial service institution and was the sole vehicle of capital market investment for Indian Citizens till the early ’90s. The institution has shown great resilience and has grown from strength to strength overcoming economic turbulence and global turnarounds.
Objective of the Issue
- UTI AMC IPO aims To achieve the benefits of listing the Equity Shares on the Stock Exchanges.
- The sale of up to 38,987,081 Equity Shares by the Selling Shareholders.
Basic details about UTI AMC
| Full name | UTI Asset Management Company Ltd |
| Sector | Finance |
| Industy | Finance/Asset management |
| Company Website | www.utimf.com |
Dates to remember
| IPO Open | 29 September 2020 |
| IPO Close | 01 October 2020 |
| Basis of Allotment | 07 October 2020 |
| Refunds date | 08 October 2020 |
| Credit to Demat Account | 09 October 2020 |
| Listing Date | 12 October 2020 |
IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹2144.29-₹2159.88 crores |
| Number of shares offered to the public | 38,987,081 shares |
| Face value | ₹10 per equity share |
| Price band | ₹552-₹554 per equity share |
| Retail portion | 35% |
| Lot size | 27 Nos |
| Minimum application | 1 lot – 27 shares |
| Maximum application | 13 lot – 351 shares |
| Minimum application amount | ₹14,958 |
| maximum application amount | ₹194,454 |
| Listing Exchange | BSE, NSE |
Category-wise Break up
| Category | % | No. of shares |
|---|---|---|
| QIB | 50% | 19,493,540 |
| NII | 15% | 5,848,062 |
| Retail | 35% | 13,645,480 |
| Total | 38,987,081 |
More details about the company
UTI AMC is the seventh-largest asset management company in India in terms of mutual fund QAAUM as of September 30, 2019, according to CRISIL. With more than 11 million Live Folios as of September 30, 2019, our client base accounts for 12.8% of the approximately 86 million folios that, according to CRISIL, are managed by the Indian mutual fund industry. The company’s history and track record in the mutual fund industry, strong brand recognition, distribution reach, performance, and client relationships provide a platform for future growth.
The company has a huge distribution network including 163 UTI Financial Centres (UFCs), 257 Business Development Associates (BDAs), and Chief Agents (CAs) (40 of whom operate Official Points of Acceptance (OPAs)) and 43 other OPAs. It also has a huge Independent Financial Advisor (IFA) network of over 53,000 IFAs.
Sponsors of UTI AMC
- Punjab National Bank (PNB)
- State Bank of India (SBI)
- Bank of Baroda (BOB)
- Life Insurance Corporation of India (LIC)
Financials
| Particulars (In Crores) | 2019 | 2018 | 2017 | 2016 |
| Income | 1008 | 1018 | 853 | 749 |
| 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 | 126.7 | 126.79 | 126.79 |
| Net Worth | 2407 | 2172 | 1890 | 1578 |
Financial Summary
| For the year/period ended (₹ in Million) | ||||
|---|---|---|---|---|
| 30-June-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Assets | 32,634.28 | 31,549.18 | 30,132.63 | 29,192.52 |
| Total Revenue | 2,710.68 | 8,909.61 | 10,808.94 | 11,627.47 |
| Profit After Tax | 1,010.75 | 2,764.85 | 3,479.27 | 4,050.91 |
Valuation of UTI AMC (as of FY2020)
| Earnings Per Share (EPS) | ₹21.53 |
| Price/Earnings (PE ratio) | 25.64 – 25.73 |
| Return on Net Worth (RONW) | 9.88% |
| Net Asset Value (NAV) | ₹217.88 per share |
Company Promoters
The company is a professionally managed company and does not have an identifiable promoter in terms of SEBI ICDR Regulations and the Companies Act.
Promoter holding pre-IPO : 98.96%
UTI AMC IPO Lead managers
- Axis Capital Ltd
- Kotak Mahindra capital co Ltd
- Citi group Global markets India Pvt Ltd
- DSP Merril Lynch Ltd
- ICICI Securities Ltd
- JM Financials Ltd
- SBI Capital markets Ltd
Registrar of UTI AMC IPO
KFin Technologies Private Limited
Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222
Fax: +91 40 2343 1551
Email: utiamc.ipo@kfintech.com
Website: www.kfintech.com
Company Contact Details
UTI Asset Management Company Limited
UTI Tower, ‘Gn’ Block
Bandra-Kurla Complex, Bandra (East)
Mumbai 400051, Maharashtra
Phone: +91 22 6678 6666
Email: cs@uti.co.in
Website: www.utimf.com
UTI AMC IPO Allotment Status
UTI AMC IPO allotment status will be available on KFin Technologies’ website.
Click on this link to get allotment status.
UTI AMC IPO Subscription Details
No. of Times Issue Subscribed (BSE + NSE) | |||||
|---|---|---|---|---|---|
| As on Date & Time | QIB | NII | RII | Employee | Total |
| Shares Offered | 7,757,416 | 5,818,062 | 13,575,479 | 200,000 | 27,350,957 |
| Oct 1, 2020 18:00 | 3.34x | 0.93x | 2.32x | 1.34x | 2.31x |
Final thoughts
UTI AMC IPO is going to hit Dalal street soon. applying for IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post gave you enough details to make a fundamental study of the company. learn well and make a wise decision.
happy investing
Pingback: IPO List, current-ongoing-listed IPOs - finvestfox.com