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Aditya Birla Sun Life AMC’s ₹2768 crore IPO will open on September 29

Aditya Birla Sun Life AMC’s ₹2768 crore IPO will open on September 29
Stock Market3 min read
  • One of top mutual fund companies, Aditya Birla Sun Life AMC will open its IPO on September 29 and end on October 1.
  • The issue size of the IPO is ₹2,768 crore on the higher price band ₹695-712 per share.
  • Aditya Birla Sun Life AMC is the fourth largest mutual fund house in the country with ₹2.75 billion average assets under management.
Aditya Birla Sun Life AMC is all set to open its initial public offering (IPO) next week on September 29 and close on October 1. The mutual fund company is looking to raise ₹2,768 crore through sale of 3.88 crore shares.

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

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.

The IPO proceeds will go to promoters since 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.
Issue details


Price band

₹695 to ₹712

IPO open date

September 29

IPO close date

October 1

Allotment date

October 6

Initiation of refunds

October 7

Credit of shares to demat account

October 8

IPO listing date

October 11

Minimum lot

20


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.

The mutual fund company has been in the top five list of fund houses with highest assets under management and consistent growth in profit.


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