IPO Market: After a long interruption, the IPO market is once again witnessing a huge stir. The month of September is going very well for this. So far this month, IPOs of 5 companies have come in the market.
Upcoming IPO in Market:
After a long interruption, the IPO market is once again witnessing a stir. The month of September is going very well for this. So far this month, IPOs of 5 companies have come in the market. These include Happiest Minds, Route Mobile, Cams, Chemcon and Angel Broking. If you have missed placing bets in the IPO so far, then you have a chance again on September 29 next week. On September 29, UTI AMC and public sector defence company Mazgaon Dock Shipbuilders are bringing their IPO. Know their details….
1. UTI AMC IPO
The IPO of UTI Asset Management Company (AMC) is scheduled to open on Tuesday, September 29. Investments can be made in this issue till 1 October. UTI AMC will be the third AMC to be listed on the stock markets after Nippon Life India Asset Management and HDFC AMC. The shares of UTI AMC will be listed on both BSE and NSE.
Price band
The company has kept a price band of Rs 552-554 for the issue. The company is going to offer 3,89,87,081 shares under the offer for sale in this issue. In this issue, 2 lakh shares have been reserved for qualified employees. There will be a lot of 27 shares in this price band, 2,152-2,160 from the IPO. After this investment can be made in this multiplier.
Issue management
In this issue, Life Insurance Corporation of India, State Bank of India, and Bank of Baroda are going to sell 1.04 crore shares each. Punjab National Bank and T Row are about to sell 38.03 lakh shares of their stake. The issue will be managed by Axis Capital, Citi, Bank of America Securities, ICICI Securities, JM Financial, Kotak Investment Banking and SBI Capital Markets. UTI AMC is the oldest mutual fund company in the country.
IPO: Allotment, a new entry from listing, next few days in IPO market
2. Mazagon Dock Shipbuilders IPO
The IPO of the public sector defence company Mazagon Dock Shipbuilders will also open on September 29, in which investments can be made by October 1. The company has fixed a price range of 135-145 per share for the IPO. The company said on Thursday that 3,05,99,017 shares will be offered for sale (OFS) under the IPO. The target is to raise Rs 444 crore from the IPO at the upper level of the price range.
Management
The shares of the company will be listed on BSE and NSE. Yes, Securities, Axis Capital, Edelweiss Financial, IDFC Securities and JM Financial will manage the IPO.
Another entry in the IPO market; Angel Broking will open on 22 September
Source: www.financialexpress.com
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