About the Company:
UTI Asset Management Company Ltd is the largest asset management company in India in terms of Total AUM and the seventh largest asset management company in India in terms of mutual fund QAAUM (Quarterly average AUM).
Company caters to a diverse group of individual and institutional investors through a wide variety of funds and services.
Company manages the domestic mutual funds of UTI Mutual Fund, provide portfolio management services (“PMS”) to institutional clients and high net worth individuals (“HNIs”), and manage retirement funds, offshore funds and alternative investment funds.
Company’s total QAAUM for domestic mutual funds (“Domestic Mutual Fund QAAUM”) was Rs.1542.3 billion, while Other AUM was Rs.6254.7 billion.
With 11.0 million Live Folios , Company’s client base accounts for 12.8% of the approximately 86 million folios that are managed by the Indian mutual fund industry.
Company manages 178 domestic mutual fund schemes, comprising equity, hybrid, income, liquid and money market funds.
Company has offices in London, Dubai, Guernsey and Singapore, through which company markets offshore and domestic mutual funds to offshore investors who seek to invest in India.
Company’s Distribution Channels:
UTI Asset Management Company has national footprint and offer schemes through a diverse range of distribution channels.
Company’s distribution network includes 163 UTI Financial Centres (“UFCs”), 273 Business Development Associates (“BDAs”) and Chief Agents (“CAs”) (46 of whom operate Official Points of Acceptance (“OPAs”)) and 33 other OPAs, most of which are in each case located in B30 cities.
Company’s IFAs (Independent Financial Advisors) channel includes approximately 51,000 Independent Financial Advisors (“IFAs”)
Company has a dedicated sales teams for institutional and public sector undertaking (“PSU”) clients and and also offer products directly through our UFCs, digital applications and website.
The distribution channels are supported by 486 relationship managers (“RMs”) , who interact with clients and distributors and help generate new business and maintain our existing relationships.
Key Players in the Asset Management Industry:
- HDFC Asset Management Company Ltd
- ICICI Prudential Asset Management Company Ltd
- SBI Funds Management Private Ltd
- Aditya Birla Sun Life AMC Ltd
- Nippon Life Asset Management Company Ltd
- Kotak Asset Management Company Ltd
Market Share Analysis: (Total Asset Under Management) (in Million Rupees)
- Mr. Dinesh Kumar Mehrotra (Designation: Non-Executive Chairman and Independent Director)
- Mr. Ashok Shah (Designation: Independent Director)
Positives for the Company:
- Well-positioned to capitalise on favourable industry dynamics, including the underpenetration of mutual fund products.
- Pure-play independent asset manager with strong brand recognition and diverse portfolio of funds and services.
- Multiple distribution channels with wide reach and broad and stable client base.
- Long-term track record of product innovation, consistent and stable investment performance and AUM growth.
- Established position in retirement solutions through product innovation and large retirement fund mandates.
- Experienced management and investment teams supported by strong governance structures and human resources programs.
- Enhanced profitability driven by our size and product mix.
- Company’s history and track record in the mutual fund industry, strong brand recognition, distribution reach, performance and client relationships provide a platform for future growth.
Financials of the Company: (Consolidated)
|(in Crores)||FY 17||FY 18||FY 19||FY 20||30th June 20|
Valuation of Peer Group Companies:
|Company Name||Face Value||EPS||PE Ratio||RoNW||NAV|
|UTI AMC Ltd||10||21.53||25.73||9.88%||217.88|
|HDFC Asset Management Company||5||43.78||71.70||30.31%||144.45|
|Reliance Nippon Life Asset Management Ltd||10||7.94||42.41||18.91%||45.36|
|Issue Opens on||29th September 2020|
|Issue Closes on:.||1st October 2020|
|Face Value||Rs. 10|
|Minimum Lot||27 Shares|
|Retail Category Allocation||35%|
|Issue Size||Rs.2160 cr ($292 million)|
|Market Cap||Rs.7024 cr ($949 million)|
|Listing at||NSE & BSE|
|Equity Shares Offered (OFS)||3,89,87,081|
|Equity Shares Prior to the Issue||12,67,87,254|
|Equity Shares after the issue||12,67,87,254|
|Finalization of Basis of Allotment||on or Before 7th October 2020|
|Initiation of Refunds||on or Before 8th October 2020|
|Credit of Equity Shares:||on or Before 9th October 2020|
|Listing Date:||on or Before 12th October 2020|
Subscription Details: (Will be Updated)
|(Subscription-Category-Wise (no. of times) Till time : 5:00 PM)||Shares Offered||29th Sept||30th Sept||1st Oct|
IPO Valuation Parameters:
|Earnings Per Share (EPS)||Price To Earnings ratio (PE)||Return on Net Worth (RoNW)||Net Asset Value (NAV)|
|Company Contact Info:|
|UTI Asset Management Company Ltd
UTI Tower, ‘Gn’ Block
Bandra Kurla Complex
Mumbai 400 051
|IPO Registrar Info:|
|KFin Technologies Private Limited
(formerly known as “Karvy Fintech Private Limited”)
Plot 31 & 32, Gachibowli
Financial District, Nanakramguda, Serilingampally
Hyderabad 500 032, Telangana, India
Tel: +91 40 6716 2222