Aditya Birla AMC to launch Rs 3,000-cr IPO next week

Aditya Birla Sun Life Asset Management (AMC) plans to launch its initial public offering (IPO) before the end of this month, said people in the know. The issue size would be around Rs 3,000 crore, they added.

In August, Sebi had cleared the asset manager’s IPO document, which was filed with the regulator in April.

According to its offer document, Canadian firm Sun Life Financial would divest 12.56 per cent holding, while Indian partner Aditya Birla Capital (ABCL) would sell a little less than 1 per cent.

Currently, ABCL holds a 51 per cent stake in the AMC, while Sun