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UTI AMC IPO day 1: Issue subscribed 27%, retail portion booked 51%

Religare has a positive view on UTI AMC. Hence investors having long term investment plan can invest in the company, it advised.

September 29, 2020 / 05:14 PM IST

The Rs 2,160-crore initial public offering of UTI Asset Management Company, the second-largest AMC in India in terms of total AUM, has subscribed 26.8 percent so far on September 29, the first day of bidding.

The IPO has received bids for 73 lakh equity shares against offer size of 2.73 crore equity shares, the data available on the exchanges showed. The offer size excluded anchor book which received strong response on September 28 as the company has garnered Rs 645 crore.

The portion set aside for retail investors has subscribed 50.7 percent, while the reserved portion of non-institutional investors witnessed 5.8 percent subscription and that of employees 31.57 percent. Qualified institutional buyers' category saw 0.01 percent subscription.

UTI AMC IPO to open on September 29: Here are 10 key things to know