Aditya Birla Sun Life AMC IPO likely to open next week with a ₹3,000 crore issue size

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Aditya Birla Sun Life AMC IPO likely to open next week with a ₹3,000 crore issue size
Aditya Birla Sun Life MF
  • Aditya Birla Sun Life AMC is all set to open its IPO next week, said a source aware of the development.
  • The issue size of the IPO is reportedly said to be ₹3,000 crore.
  • Aditya Birla Sun Life AMC is the fourth largest mutual fund house in the country with ₹2.75 billion average assets under management.
Initial public offering (IPO) of Aditya Birla Sun Life AMC may open in the last week of September with an issue size of approximately ₹3,000 crore, said a source aware of the development.

Aditya Birla Sun Life AMC is the fourth largest mutual fund house in the country with ₹2.75 billion average assets under management after SBI MF, HDFC MF and ICICI Prudential MF as of June quarter.

Moreover, the company will be the fourth mutual fund company to get listed on exchanges. So far, HDFC AMC, Nippon Life India AMC and UTI AMC are listed.

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The company is a joint venture between Aditya Birla Capital and Canadian firm Sun Life AMC. Both the promoters will jointly sell a 13.5% stake in the company through the IPO. Aditya Birla Capital will sell 3.6 crore shares, and Sun Life (India) AMC Investments will offload 28.51 lakh shares in the asset management firm, according to the draft red herring prospectus (DRHP).

The IPO will make a debut by selling 3.88 crore shares to the public. The company manages 135 schemes comprising 35 equity, 93 debt, 2 liquid schemes, 5 exchange traded funds (ETFs), and 6 domestic Funds of Funds as of December 31, 2020.

Particulars201820192020
Revenue₹1,323 crore₹1,406 crore₹1,233 crore
Profit₹348 crore₹446 crore₹494 crore

From the beginning of the COVID-19 lockdown in India in March 2020 to December 31, 2020, the mutual fund company onboarded over 50,000 investors through its video know-your-customer (KYC) facility.
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