UTI AMC IPO subscribed 2.31 times on last day of bidding

The initial public offer of UTI Asset Management Company (AMC) was subscribed 2.31 times on the last day of bidding on Thursday. The price range for the initial public offer (IPO) was set at Rs 552-554 per share. UTI AMC had raised Rs 645 crore from anchor investors on Monday.

The initial public offer of UTI Asset Management Company (AMC) was subscribed 2.31 times on the last day of bidding on Thursday. The Rs 2,160-crore initial public offer received bids for 6,31,02,348 shares against 2,73,50,957 shares on offer.

The category meant for qualified institutional buyers was subscribed 3.34 times, non-institutional investors 93 per cent and that for retail individual investors was subscribed 2.32 times. The price range for the initial public offer (IPO) was set at Rs 552-554 per share.

UTI AMC had raised Rs 645 crore from anchor investors on Monday. This will be the third AMC to get listed on the stock exchanges after Nippon Life India Asset Management and HDFC AMC.

Kotak Mahindra Capital Company, Axis Capital, Citigroup Global Markets India, DSP Merrill Lynch, ICICI Securities, JM Financial and SBI Capital Markets are the managers to the offer. Shares of the company are proposed to be listed on BSE and NSE.