Aditya Birla Sun Life AMC
Aditya Birla Sun Life AMC entered the domestic stock market today. The listing of shares of Aditya Birla Sun Life AMC was weaker than expected. The stock was listed flat on NSE at a price of Rs 715. At the same time, the stock was listed at Rs 712 on BSE. The issue price band was Rs 695-712 per share.
The issue of Aditya Birla Sun Life AMC opened on 29 September and closed on 1 October. Its issue was subscribed 5.25 times. In this, Qualified Institutional Buyers (QIBs) had bid 10.36 times. While the share of non-institutional investors was subscribed 4.39 times. At the same time, retail investors had bid 3.24 times.
The Aditya Birla Capital and Sun Life AMC-promoted company raised Rs 2,768 crore through its IPO, which was a full-fledged offer for sale by both these promoters. The IPO includes an offer for sale of up to 28.51 lakh equity shares by Aditya Birla Capital and up to 3.6 crore equity shares by Sun Life AMC in the IPO of up to 3.88 crore equity shares.
Aditya Birla AMC 4th largest fund house
Aditya Birla Sunlife MF is the fourth largest fund house. Its average assets under management in the June quarter were Rs 2.93 lakh crore. At present, it manages 118 schemes.
Aditya Birla Sun Life Mutual Fund Investment Manager Aditya Birla Sun Life AMC is a joint venture between Aditya Birla Group and Sun Life Financial Inc of Canada. Before the launch of its IPO, the company had raised Rs 789 crore from anchor investors.
Asset management companies like Nippon Life India Asset Management, HDFC AMC and UTI AMC are already listed on the stock exchanges.
The stock is trading with a decline
After the listing, the stock of Aditya Birla Sun Life AMC is trading with a decline. The stock is trading at a price of Rs 705.50, down 0.88 percent on the BSE. The stock went to a high of Rs 721 during trading. At the same time, touched a low of Rs 700.
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Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.