 "Aditya Birla Sun Life AMC IPO subscribed 5.2x, mops up Rs 10,374 cr")
Aditya Birla Sun Life AMC’s IPO received modest subscription of just 5.2 times with bids totalling Rs 10,374 crore. The institutional investor portion of the issue was subscribed 10.4 times, high networth individual (HNI) portion was subscribed 4.4 times and retail portion was subscribed 3.22 times. The price band for the IPO is Rs 695 to Rs 712 per share. At the upper band, the mutual fund house will be valued at Rs 20,500 crore.
The IPO will entirely be a secondary share sale by promoters Aditya Birla Capital (ABCL) and Sun Life AMC. The domestic partner sold 2.85 million shares–less than 1 per cent of its stake–for about Rs 203 crore. Meanwhile, Canadian firm Sun Life divested 12.56 per cent holding, or 36 million shares, for Rs 2,565 crore.
At present, ABCL holds a 51 per cent stake, while Sun Life holds the remaining 49 per cent. Following the IPO, the total promoter stake in the fund house will fall from 100 per cent at present to 86.5 per cent.
Aditya Birla AMC is the country’s largest non-bank affiliated fund house in terms of assets under management (AUM) and fourth overall.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%