Aditya Birla Sun Life AMC’s ₹2768 crore IPO will open on September 29
Aditya Birla Sun Life MF
- 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.
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.
AdvertisementThe 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.
|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|
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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