This IPO got 5.25 times subscription.
Aditya Birla Sun Life AMC IPO: Aditya Birla Sun Life AMC Limited’s stock opened on Monday lightly. After the listing of the company’s shares, the issue price closed with a decline of about two percent against Rs 712. The stock got listed on BSE at Rs 712. Later it touched a high of Rs 721 and a low of Rs 696 during trading. In the end, it closed at Rs 699.65, down 1.73 per cent.
It got listed on the National Stock Exchange at Rs 715, which is only 0.42 per cent higher than the issue price. In the end, it closed at Rs 698, down 1.96 per cent. In terms of trading volume, over 6.80 lakh shares were traded on BSE and over 78.76 lakh shares in NSE during the day. The initial public issue of Aditya Birla Sun Life AMC Limited was subscribed 5.25 times earlier this month.
Raised Rs 2,770 crore
Aditya Birla Sun Life AMC has come up with its public issue. The company’s target was to raise about Rs 2,770 crore from this. This IPO closed on 1 October. For this the price band was fixed at Rs 695-712 per share. Before its IPO, the company had collected Rs 789 crore from anchor investors.
IPO purely offer for sale
Aditya Birla AMC’s Initial Public Offering (IPO) is an outright offer for sale, in which two promoters, Aditya Birla Capital and Sun Life (India) AMC Investments, have sold their stake in the asset management firm. 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 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.
The company manages 118 schemes
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. This company was established in 1994.
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