Aditya Birla Sun Life AMC IPO opens today: Check GMP and net profit, all you need to know

Aditya Birla Sun Life AMC opened its initial public offering (IPO) today, September 29, 2021. With an initial share listing of Rs 2768 crore, the company is expecting a positive return based on its grey market performance. According to BSE data, the IPO has been subscribed 0.17 times within the first hour of opening.

Aditya Birla Sun Life AMC IPO opened its IPO on Wednesday, September 29, 2021, and will conclude subscription on Friday, October 1. The share allotment is reported to take place on October 6, while the share listings on the National Stock Exchange (NSE) and BSE (Bombay Stock Exchange) will happen on October 11, 2021. The initiation of refunds will happen on October 7.

Aditya Birla Sun Life AMC IPO price band

According to brokerage firms, the company’s total assets amount to around Rs 1572 crore as of 2021. The company aims to raise Rs 2768 crore through the offer, with a price band fixed for Rs 695-712 per share. Investors who wish to subscribe to the IPO can bid in the lot of 20 equity shares and multiples thereafter. The public offering is completely an OFS (Offer for Sale). The promoters - Aditya Birla Capital and Sun Life (India) - will disinvest their entire stake in the company. In the Aditya Birla AMC, also known as Aditya Birla Sun Life AMC, Aditya Birla Capital holds a 51% stake and the remaining 49% is held by Sun Life AMC. Know Aditya Birla AMC IPO GMP, issue date, price band and more.

Aditya Birla Sun Life AMC IPO grey market

According to market observers, Aditya Birla AMC shares are trading at Rs 722 to Rs 747 on September 29. The shares were trading at a premium of around Rs 27 in the unlisted market. The grey market price rose has dipped for the company since its listing. Earlier on Sunday, the company’s shares were trading at a premium of 60. However, investors believe that the premium will rise as the company has a strong market presence.

About Aditya Birla Sun Life AMC

Aditya Birla Sun Life AMC Limited (ABSLAMC) is a joint venture between Aditya Birla Capital and Sun Life (India) AMC Investment. It is primarily the investment manager of Aditya Birla Sun Life Mutal Fund. "Having total domestic assets under management (AUM) of over to Rs.2.6 lakh crore for the quarter ended March 31, 2021. ABSLMF is one of the leading Fund Houses in India based on domestic average AUM as published by the Association of Mutual Funds of India (AMFI)," according to its website. Aditya Birla Sun Life AMC, which has a presence across more than 280 locations, has various other business lines such as Real Estate Investments, Portfolio Management Services and Alternative investment funds.

Image: PTI