UTI Asset Management Company IPO
UTI Asset Management Company Limited (UTIAMC) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 12 October 2020.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +0.1% (likely range -16% to +10%), day's high +7.6%, chance of a gain 50%. Actual: -9.8% at the open, -4.3% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 77,57,416 | 2,58,98,157 | 3.34x | |
| NII (HNI) total | 58,18,062 | 54,00,486 | 0.93x | |
| Retail | 1,35,75,479 | 3,15,35,190 | 2.32x | |
| Employees | 2,00,000 | 2,68,515 | 1.34x | |
| Total | 2,73,50,957 | 6,31,02,348 | 2.31x |
Bids on NSE and BSE together, as published by NSE. Shares offered exclude the anchor portion. 38% of all shares bid for were at the cut-off price.
Anchor investors: the company's anchor allocation letter is a scanned document we cannot read automatically; open it on NSE (zip).
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to UTI Asset Management Company's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Indian Energy ExchangeOct 2017 | 2.56x | 0.85x | 2.61x | 2.28x | ₹1,426 Cr | -9.1% | +0.6% |
| Eris LifesciencesJun 2017 | 4.68x | 0.45x | 3.51x | 3.29x | ₹1,741 Cr | +1.3% | +4.2% |
| L&T Technology ServicesSep 2016 | 5.01x | 1.03x | 1.75x | 2.53x | ₹894 Cr | +7.0% | +8.3% |
| Tejas NetworksJun 2017 | 2.16x | 0.48x | 3.10x | 1.88x | ₹803 Cr | 0.0% | +5.6% |
| Prince Pipes and FittingsDec 2019 | 3.54x | 1.21x | 1.89x | 2.21x | ₹503 Cr | -10.1% | -0.1% |
| Aster DM HealthcareFeb 2018 | 2.10x | 0.55x | 1.18x | 1.31x | ₹1,010 Cr | -3.7% | -1.1% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| Axis Capital | 107 | +20.4% | 73% |
| Citigroup Global Markets India | 35 | +14.2% | 63% |
| DSP Merrill Lynch | — | — | — |
| ICICI Securities | 109 | +21.3% | 69% |
| JM Financial | 109 | +22.8% | 75% |
| SBI Capital Markets | 56 | +16.7% | 61% |
Offer documents (NSE)
Frequently asked
What is the UTI Asset Management Company IPO price band and lot size? ₹552–554 per share, with a lot of 27 shares, so the smallest retail bid is ₹14,958.
How many times has it been subscribed? 2.31x overall: QIB 3.34x, NII 0.93x, retail 2.32x, employees 1.34x.
How did it list? It opened at ₹500, -9.8% against the issue price of ₹554, and closed its first day -14.0%.
