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A wholly owned subsidiary and the investment banking arm of State Bank of India
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UTI AMC Limited

IPO of an asset management company for INR 21,600 million

2020

Deal Highlights

  • Overall issue witnessed strong response from marquee institutional investors in the face of one of the most challenging market conditions
  • SBICAPS secured 2nd highest rank in anchor procurement out of 7 BRLMs
  • Converted marquee funds such as ICICI Pru MF and Mirae MF early over a weekend which created strong momentum leading up to the deal launch
  • SBICAPS was the only bank pushing for a higher valuation for the issue
  • Multiple investors allocated to other BRLMs were consulting SBICAPS-Investec’s research analyst for the issue
  • As a retail marketing coordinator, SBICAPS delivered:
  • Comprehensive retail marketing strategy by involving UTIs key zonal offices & IFA network, tie-up with sub syndicate & broker network and electronic & print media
  • Ensured success with retail commission structure at pre-Covid levels
  • Activated SBI Groups own offline and online network in the key retail centers

Deal Summary

Size INR 21,600 Mn
Price Band INR 552 – 554 / share
IPO Date Sept 29 – Oct 1, 2020
Subscription QIB: 3.33x, NII: 0.92x, RII: 2.31x
BRLMs SBICAPS, Kotak, BAML, ISec, Citi, Axis, JM Financial

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