UTI Asset Management Company on September 28 has raised Rs 644.64 crore from several anchor investors ahead of its IPO opening tomorrow.
"Under anchor investors portion in the public issue of UTI Asset Management Company, 1,16,36,124 equity shares have been subscribed at Rs 554 per equity share," the company said in a circular available on the exchanges.
Marquee investors who participated in the anchor book included Morgan Stanley, Invesco Trustee, Avendus, Tara Emerging Asia Liquid Fund, Goldman Sachs, Nomura Singapore, HSBC, Kotak Funds, PGIM India, BNP Paribas MF, Max Life Insurance, HDFC Life Insurance, Valeo Global Fund and Mirae Asset.
Among others, ICICI Prudential, Principal MF, Canara HSBC, IIFL, Reliance Capital Trustee, Mahindra Manulife, Edelweiss, Elara India Opportunities Fund, HDFC MF, Sundaram MF also invested in the issue via anchor book.
UTI AMC is going to raise Rs 2,160 crore at the higher end of the price band of Rs 552-554 per share via public issue.
The initial public offering will open for subscription on September 29 and close on October 1.
The public issue consists of an offer for sale of up to 3,89,87,081 equity shares by five shareholders - SBI, LIC, Bank of Baroda, PNB and T Rowe Price International.
State Bank of India, Life Insurance Corporation of India and Bank of Baroda will sell up to 1,04,59,949 equity shares each via public issue, while Punjab National Bank and T Rowe Price International (TRP) will divest up to 38,03,617 equity shares each.
The offer also includes a reservation of up to 2 lakh equity shares for eligible employees. The total offer would constitute at least 30.75 percent of the post-offer paid-up equity of the company.UTI AMC is the second-largest asset management company in India in terms of total AUM and the eighth-largest asset management company in India in terms of mutual fund QAAUM as of June 2020.