The Rs 2,160-crore initial public offering (IPO) of UTI Asset Management Company, the eighth-largest asset management company in India in terms of mutual fund QAAUM, has been subscribed only 78.5 percent on September 30, the second day of bidding. The issue closes October 1.
The response seems to be lukewarm when compared to Mazagon Dock Shipbuilders and Likhitha Infrastructure IPOs that too are open for subscription. These issues, however, are smaller in size compared to UTI AMC.
The UTI AMC IPO received bids for 2.15 crore equity shares against an offer size of 2.73 crore equity shares, the data available on exchanges showed. The price band has been fixed at Rs 552-554 per share.
The offer size excludes the anchor book portion that opened for a day on September 28. The company has received Rs 645 crore from anchor investors.