UTI Asset Management Company Ltd. makes a weak debut on the bourses with scrip got listed at Rs 490.25 on the Bombay Stock Exchange, a 11.50 per cent discount to its issue price of Rs 554.00. On the National Stock Exchange, the stock was listed at Rs 500.00.

The company, which raised 3.90 Cr from initial public offering, was subscribed 2.11 times, receiving bids for 822.63 lakhs shares against the total issue size of 389.87 lakhs shares.

The company, listed under B Group Securities post its IPO, opened for subscription from Sep 29 to Oct 01.

Following a weak opening, the scrip touched an intraday high of Rs 530.00 and a low of Rs 471.10, before closing the session up by 13.97 per cent to its listing price at Rs 476.60 on the BSE.

The company anticipates using the proceeds of the issue for .

Citigroup Global Markets India Pvt.Ltd.,Axis Capital Ltd.,Kotak Mahindra Capital Company Ltd.,DSP Merrill Lynch Limited,JM Financial Ltd.,SBI Capital Markets Limited,ICICI Securities Ltd as lead managers & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 40,593.80, up 84.31 points, or 0.20 per cent.