The initial public offering (IPO) of UTI AMC received 8.80 lakh applications. Overall, the issue was oversubscribed 2.3 times.
The IPO was open for subscription from September 29 and closes on October 1. The issue received bids for 6.31 crore shares as against 2.73 crore shares on offer. The company has received applications amounting to Rs.3,495 crore from investors for the issue size of Rs.1,515 crore.
While the fund house saw 3.34 times oversubscription from qualified institutional buyers (QIBs) category, retail investors category was oversubscribed 2.32 times. Similarly, the non-institutional investors category was oversubscribed 0.93 times.
The IPO comprised an offer of 3.90 crore equity shares by existing shareholders, which includes SBI, LIC, Bank of Baroda (BoB), Punjab National Bank (PNB) and T Rowe Price International. SBI, LIC, PNB and BoB hold 18.5% stake each in UTI AMC. The US-based T Rowe Price holds 26% stake in the AMC.
UTI AMC is the third fund house to get listed on BSE and NSE in recent years after HDFC AMC and Nippon India MF.
