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.
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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.
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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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