UTI AMC - IPO - Mr. Jaikishan Parmar - Sr. Equity Research Analyst, Angel Broking Ltd

"UTI AMC IPO will open for subscription on September 29 and sets IPO price band at Rs 552-554 per share. We believe IPO will garner the interest from all market participants, as IPO Priced at an attractive valuation. UTI AMC demanding a valuation of 25x of FY20 earning and 5.3 percent of Q1FY21 QAAUM. However, Listed peers HDFC AMC trades at 35x FY20 earnings and Nippon AMC trades at 37x FY20 earnings. Additionally HDFC and Nippon AMC trades at 12.56 percent and 8.55 percent of Q1FY21 QAAUM, Respectively. Hence Considering attractive valuation and asset-light business models we believe IPO sail through successfully."

Source : Equity Bulls

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