Geojit: UTI AMC IPO Price Justifies Competition Pressure
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Geojit Research Report
UTI Asset Management Company Ltd. is a professionally managed company catering to diverse group of individuals and institutional investors, banks, trusts and NRIs through a wide variety of fund management services.
The company manages the domestic mutual funds of UTI mutual fund, provides Portfolio Management Services (PMS) to institutional clients and high networth individuals (HNIs) and manages retirement funds like National Pension Scheme (NPS).
The AMC also manages offshore funds and alternative investment funds.
At the upper price band, total issue size stands at Rs. 2,159.8 crore.
The issue consists of only offer for sale (OFS) from State Bank of India, Life Insurance Corporation of India, Bank of Baroda, Punjab National Bank and T. Rowe Price International Ltd. and the company will not receive any proceeds from this offer.
The prime purpose of the issue is to achieve the benefits of listing shares on stock exchanges.
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