InvestorQ : Can you give me an update on the forthcoming UTI AMC IPO?
Sam Eswaran made post

Can you give me an update on the forthcoming UTI AMC IPO?

Answer
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Moii Chavate answered.
1 month ago


UTI Asset Management Company will be launching its Rs.3000 crore IPO on September 29 and it will be open for a period of 3 working days. The entire IPO will be by way of offer for sale, wherein some of the original and subsequent promoters will offer these shares.

Among the Indian investors, SBI, LIC, PNB and BOB will look to exit their stakes completely. That is because they have been recently pulled up by SEBI for the delay. SEBI had asked these institutions with a mutual fund franchise to reduce their stake in UTI.

In all close to 30.75% of the total capital base of UTI AMC will be offered as part of the OFS, giving the AMC an overall valuation of Rs.10,000 crore. This is substantially lower than the value assigned to HDFC AMC, but then the AUM of UTI is much lower and is ranked seventh in India in terms of AUM.