The share price of UTI AMC rose 8 percent to hit a high of Rs 513.70 per share on the NSE on Tuesday. The stock, however, is still trading 9 percent lower compared to its issue price of Rs 554.

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UTI AMC got listed on Monday at a 13 percent discount as against its issue price. About 4,71,522 shares exchanged hands today, as per the NSE data.

The issue opened on September 20 and closed on October 1.

UTI AMC is the second-largest asset management company in India in terms of total assets under management, and also has the largest share of monthly average AUM amongst the top ten Indian AMCs coming from cities beyond the top 30.

The IPO was subscribed around 2.3 times till the final day of bidding. According to stock exchange data, the UTI AMC issue received bids for 6.31 crore equity shares, compared to the issue size of 2.73 crore shares.

Five major shareholders, SBI (18.2 percent holding pre-issue), LIC (18.2 percent holding pre-issue), BOB (18.2 percent holding pre-issue), PNB (18.2 percent holding pre-issue) and T Rowe Price (26 percent holding pre-issue) are executing OFS of 3.9 crore shares with an offer size of Rs 2,160 crore.

Post the IPO, the shareholding of SBI, LIC, BOB, PNB, and T Rowe Price will be 10 percent, 10 percent, 10 percent, 15 percent, and 23 percent respectively.

First Published:Oct 13, 2020 11:48 AM IST