UTI AMC IPO: SBI, LIC, PNB, Bank of Baroda to sell stake; price band set at Rs 552-554 per shares, check all details inside

UTI AMC IPO: The UTI Asset Management Company (AMC) is going to launch its Initial Public Offer (IPO) for subscription on 29th September 2020. The company plans to raise Rs 3,000 crore from its issue offer. The UTI AMC public issue will offload 3,89,87,081 equity shares currently held by State Bank of India (SBI), Life Insurance Corporation of India (LIC), Punjab National Bank, Bank of Baroda and T Rowe Price International.

UTI AMC IPO subscription details

The UTI AMC IPO will remain open for subscription up to 1st October 2020. The largest AMC in India in terms of Total AUM has set the UTI AMC IPO price band at Rs 552-554 per share. One lot of the UTI AMC IPO will comprise 27 shares. An investor can buy a minimum of one lot while a retail investor can apply for a maximum of 13 lots of the UTI AMC IPO.

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Means an IPO investor can invest a minimum of Rs 14,958 in this public issue - a maximum of Rs 1,94,454 can be invested into this initial public issue.

Out of total 3,89,87,081 equity shares available for sale by the UTI AMC,  50 per cent are reserved for the QIB category investors, 15 per cent for NIIs while 35 per cent have been kept reserved for the retail investors. So, the total number of equities available for retail investors is 13,645,480.

KFintech Private Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

How to apply for UTI AMC IPO

An investor can apply for a UTI AMC IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of one's bank account. UPI IPO application is offered by brokers who don't offer banking services.

Important dates

IPO subscription opens on 29th September 2020.

UTI AMc IPO subscription closes on 1st October 2020.

UTI AMC IPO Allotment date is 7th October 2020.

Initiation of Refunds will begin from 8th October 2020.

Credit of UTI AMC shares in the demat account of the allottees will take place on 9th October 2020.

UTI AMC IPO listing will take place on 12th October 2020.