The current market capitalisation of the company stood at Rs 269.44 crore, with promoters' shareholding in the company at 74 percent post issue.
The company is led by Srinivasa Rao Gaddipati, with around three decades of technical experience and co-promoted by his daughter Likhitha Gaddipati.
UTI AMC traded with volumes of 13,69,454 equity shares on the BSE and 1,08,08,276 shares on the NSE.
Mazagon Dock traded with volumes of 35,96,526 equity shares on the BSE and 3,99,29,204 shares on the NSE.
UTI AMC has penetrated well into in the B30 cities as its 250+ development officers and Chief Agents are based in B30 cities.
Astha Jain of Hem Securities also advised that investors should book profit on 3/4th of allotted shares on day of listing and the balance can be hold for long term.
The bumper listing was in line with analysts' expectations given company's strong orderbook position, attractive valuations and hefty IPO subscription.
Given the tepid response to IPO and consistent redemption pressure from investors in the mutual fund industry for last three months, the listing was on expected lines.
Angel Broking has the second weakest listing of 2020. It traded with volumes of 8,94,431 equity shares on the BSE and 85,46,238 shares on the NSE.
If someone wants to buy Angel Broking, they should wait for a decent correction before adding this counter, Gaurav Garg of CapitalVia Global Research said.
The listing was in line with analysts' expectations citing valuations concerns, muted revenue growth despite robust client additions and rising competition in the broking industry.
Hemang Jani of Motilal Oswal Financial Services advised investors to hold the company for the long term given its business model and healthy financials
The listing premium was definitely higher than Happiest Minds Technologies (111 percent premium)
Manali Bhatia of Rudra Shares & Stock Brokers is the only analyst advising exiting the stock on listing gains as growth is highly correlated with AUMs of mutual funds.
"We would suggest allotted investors to book hefty listing premium profits," Prashanth Tapse of Mehta Equities told Moneycontrol.
There is strong revenue visibility for CAMS, as they have a 70 percent market share of the MF registrar business, Jaikishan Parmar of Angel Broking said.
Chemcon enjoys high entry barriers which leads to client stickiness and long standing relationships, said Motilal Oswal.
CAMS is going to list its equity shares on October 1 after the IPO saw 47 times subscription during September 21-23.
Hence, experts feel the demand clearly indicated that the listing premium could be similar to Happiest Minds Technologies which debuted with 111 percent premium recently.
IPOs of UTI AMC, Mazagaon Dock Shipbuilders and Likhita Infrastructure will open for subscription this week, while Chemcon Speciality Chemicals and Computer Age Management Services (CAMS) will debut on the bourses.
After opening at Rs 708 on the BSE and Rs 717 on the NSE, the stock touched an intraday high of Rs 735 and low of Rs 625 on both exchanges.
Experts advised staying in the counter for long-term gains given the increased focus on the digital space and lack of competion for the firm.
Route Mobile enjoys leadership position in the Cloud communication service.
Moneycontrol's Sakshi Batra does a 3 Point Analysis on what should investors do post the bumper listing of Happiest Minds
Happiest Minds share price touched an intraday high of Rs 395 (up 138 percent over IPO price) on the BSE and Rs 394.95 on the NSE.