UTI AMC IPO Listing Details: IPO list at 11.50% discount to its issue price

UTI AMC IPO Listing Details: IPO list at 11.50% discount to its issue price

UTI AMC IPO Listing Details:  UTI AMC IPO list at 11.50% discount to its issue price

UTI AMC IPO Listing Details: At the end of September 2020, the Asset Management Company of UTI has launched its initial public offering. On Monday, the UTI AMC has begun its debut in the Indian stock market.

The shares of UTI AMC listed at 11.51% discount to its issue price of Rs. 554 per equity share. It started trading at Rs. 490.25 per share. Besides, the shares listed at Rs. 500 on the Bombay Stock Exchange.

In today’s trade, the stock reached a day high price of Rs. 459.95 at 10:10 AM IST.

At the end of the trading session, the shares closed at Rs. 481.50 with a 13.08% loss on NSE. Similarly, the scrip closed at Rs. 476.60 with 13.97% down on BSE. Besides, a total of 1,08,08,276 shares changed hands on NSE and 13,69,454 shares exchanged on the BSE.

As per the source, the market capitalization of the stock stood at Rs. 6,042.68 crores.

According to the reports, the IPO was subscribed around 2.31 times and received bids for 6,31,02,348 shares against the offered size of 2,73,50,957 shares.

Over the 55 years, the UTI has been engaged in the AMC industry. Moreover, the AMC has invested a total of 92.30% AUM in the six crores equity funds. Moreover, those funds have outperformed to their benchmark indices.

It is the third AMC listed on the stock exchange after Nippon Life India AMC and HDFC AMC.

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