New Delhi: Aditya Birla Sun Life AMC initial public offering (IPO) is opening on September 29. The subscription period will close on October 1. Notably, the IPO is entirely an offer for sale, wherein two promoters — Aditya Birla Capital and Sun Life (India) AMC Investments — will divest their stake in the asset management firm, PTI reported the draft red herring prospectus (DRHP).
Aditya Birla Sun Life AMC IPO Details
- The IPO has a face value of Rs 5 per equity share.
- The initial public offering has an IPO price of Rs 695 to Rs 712 per equity share.
- The IPO has a market lot and minimum order quantity of 20 shares.
- Aditya Birla Sun Life AMC IPO has an issue size of Rs 2,768.26 crore, as per a report in chittorgarh website.
- Aditya Birla Sun Life AMC IPO share allotment is likely to take place on October 6.
- The IPO is likely to be listed at BSE and NSE.
- Aditya Birla Sun Life AMC Ltd, the investment manager of Aditya Birla Sun Life Mutual Fund, is a joint venture between Aditya Birla Group and Sun Life Financial Inc of Canada, PTI reported.
- In August, Aditya Birla Sun Life AMC received capital markets regulator Sebi’s approval to raise funds through an initial share sale. Earlier in June, Sebi had kept the proposed initial share-sale of Aditya Birla Sun Life AMC in “abeyance”, PTI reported.
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