Aditya Birla Sunlife AMC public issue will be completely an offer for sale comprising 28.51 lakh equity shares put forward by Aditya Birla Capital and around bulk 3.6 crore of equity shares extended by Sun Life AMC.
The joint venture between Aditya Birla Capital Ltd. and Sunlife AMC is all set to set forth its latest launch of IPO (Initial Public Offering) on September 29, 2021.
Ahead of its forthcoming IPO, the corporation’s shares are trading in the unlisted market at a premium of Rs. 30 to Rs. 40 apiece. Last week, the shares were noticeably traded at a premium higher than the present amount at Rs. 50 per share.
The upcoming IPO which will be opening from September 29 to October 1, is expected to raise Rs. 2768.25 crore, the top end of the price band being fixed at Rs. 695- Rs. 712 per share. The company is ready to offer around 3.88 crore equity shares in its public offering.
Aditya Birla Sunlife AMC public issue will be completely an offer for sale comprising 28.51 lakh equity shares put forward by Aditya Birla Capital and around bulk 3.6 crore of equity shares extended by Sun Life AMC. The present 100 per cent shareholding of the company’s promoters will certainly be curtailed to 13.5 per cent which will amount to the public shareholdings of the promoters. Since this offering is an entire offer-for-sale, the funds raised will be distributed among selling shareholders.
As per the company’s plan, the minimum number of equity shares for bidding is fixed at 20 and then in multiples. Retail investors are allowed to invest a minimal value of Rs. 14, 240 for one slot whereas the highest amount of investment is planned at Rs. 1,99,360 for fourteen slots.
About 50 per cent of the offer strength, which is 3.88 equity shares, is fairly reserved for eligible institutional buyers. From the remaining portion, non-institutional stakeholders will be offered 15 per cent and the rest 35 per cent is reserved for the retail investors.
In April this year, Aditya Birla Sun Life AMC filed a draft for the initial public offering with the Securities and Exchange Board of India (SEBI). The company is India’s fourth largest non-bank fund house with AUM (assets under management) worth more than 2.5 trillion.
What is Aditya Birla Sun Life AMC?
Aditya Birla Sun Life AMC is an investing management corporation inclining with the provisions of Securities and Exchange Board of India. It is a joint business between Aditya Birla Capital Limited and Sun Life Financial Corporation serving industry-focused equity strategies, varied income funds, debt products, etc.
Established in 1994, Aditya Birla Sun Life AMC is the leading financial services platform catering to the needs of everyone from individuals to industry majors. It provides financial services including accumulation of wealth, funds protection, life insurance, asset management, housing finance assistance, etc. The establishment also owns an online money management portal under the name ‘Aditya Birla Money MyUniverse’.
With the establishment of its Pan-India presence, the company has diversified its operations exponentially over more than 280 locations across 27 states and over 6 union territories. It has a gigantic physical as well as digital network including KYD (Know Your Distributor), Mutual Fund Distributors, National Distributors and banks with other financial institutions.
In its Mutual Funds space, the company has significantly bolstered the growth of its operations in the past few years by expanding it worldwide which resulted in the surged investment infusion. Besides the growth in the financial segment, the company has also witnessed technological improvement which makes the mutual fund-based products more transparent.
Headquartered in Mumbai, India, Aditya Birla Sun Life AMC possesses more than 14, 000 employees with over 6 million customers from 26 countries. With one of the largest research analyst teams, the company serves in Global markets including the United Kingdom, United States, Canada, Indonesia, Philippines, Japan, Ireland, India, Bermuda, China, etc. The corporation is doubtlessly a giant in the Indian financial space and continues to augment its market valuation by bringing forth its upcoming IPO which is expected to raise a whopping Rs. 2768.25 crore.