UTI Asset Management IPO Graded 4/5 by CRISIL
Background about UTI Asset Management company:
UTI Asset Management Company was formed as a result of the bifurcation of the erstwhile Unit Trust of India into two entities in October 2002. UTI AMC, in its new form, commenced operations with effect from February 1, 2003. Four government-owned sponsors – State Bank of India, LIC, Punjab National Bank, and Bank of Baroda – took equal stakes in the UTI AMC. Subsequent to the IPO the sponsors would still hold majority stake of about 54 per cent.
UTI AMC is one of the largest players in Indian mutual fund industry, with a market share of around 10.3 per cent as of December 2007. UTI AMC has 8.1 million retail investors spread across 455 cities accounting for 51.2 percent of the total domestic AUM.
The company also offers PMS to its clients. As of September 2007, UTI AMC’s PMS business had around 320 clients and assets under management (AUM) amounting to Rs 21,609 million.
Crisil has assigned a CRISIL IPO Grade “4/5″ to the proposed initial public offer of UTI Asset Management Company (UTI AMC). This grade indicates that the fundamentals of the issue are above average relative to other listed equity securities in India. However, this grade is not an opinion on whether the issue price is appropriate in relation to the issue fundamentals. The offer price for the issue may be higher or lower than the level justified by its fundamentals. The grade is not a recommendation to buy / sell or hold the graded instrument, the graded instrument’s future market price or its suitability for a particular investor.
*To get the password for buy calls, please subscribe to this blog. You will receive the password in next email to you*If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
Respected sir, my id in demat form INE189A07010 of 1964 sceheme number of units 19 is not there in the statement of accounts. it says that the amount is redeemed but the amount has not been credited to my bank account. please do the needful. my contact number is 020-26970978. thanking you.