UTI Asset Management Company Ltd

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.

As of September 30, 2019, 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 as of September 30, 2019, 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 as of September 30, 2019.

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”) (as of September 30, 2019), who interact with clients and distributors and help generate new business and maintain our existing relationships.

 

Key Players in the Asset Management Industry:

 

Market Share Analysis: (Total Asset Under Management) (in Million Rupees

 

Management Team:

  1. Mr. Dinesh Kumar Mehrotra (Designation: Non-Executive Chairman and Independent Director)
  2. 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:

(in Crores) FY 17 FY 18 FY 19 30th Sept 19
Revenue 1048.25 1162.7 1080.8 496.35
Net Profit 395.2 405.09 347.9 208.9

 

Valuation of Peer Group Companies:

Company Name Face Value EPS PE Ratio RoNW NAV
UTI AMC Ltd 10 27.83 TBA 13.55% 205.41
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

 

IPO Details:

Details Info
Issue Opens on Will be Updated
Issue Closes on:. Will be Updated
Issue Price Will be Updated
Face Value Rs. 10
Minimum Lot Will be Updated
Minimum Investment Will be Updated
Issue Constitutes 30.75%
Issue Size Will be Updated
Market Cap Will be Updated
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

 

Important Dates:

Finalization of Basis of Allotment Will be Updated
Initiation of Refunds Will be Updated
Credit of Equity Shares: Will be Updated
Listing Date: Will be Updated

 

Subscription Details: (Will be Updated)

(Subscription-Category-Wise (no. of times) Till time : 00:00) Shares Offered Day-1 Day-2 Day-3
QIB
NII
Retail
Employee
TOTAL

 

IPO Valuation Parameters:

Earnings Per Share (EPS) Price To Earnings ratio (PE) Return on Net Worth (RoNW) Net Asset Value (NAV)
27.83 Will be Updated 13.55% 205.41

 

 

Company Contact Info:
UTI Asset Management Company Ltd
UTI Tower, ‘Gn’ Block
Bandra Kurla Complex
Bandra (East)
Mumbai 400 051
Maharashtra, India
E-mail: cs@uti.co.in
Website: https://www.utimf.com

 

IPO Registrar Info:
KFin Technologies Private Limited
(formerly known as “Karvy Fintech Private Limited”)
Selenium Tower-B
Plot 31 & 32, Gachibowli
Financial District, Nanakramguda, Serilingampally
Hyderabad 500 032, Telangana, India
Tel: +91 40 6716 2222
E-mail: utiamc.ipo@kfintech.com
Website: www.kfintech.com