Should you subscribe to AB Sun Life AMC IPO? Here's what analysts say

Analysts recommend subscribing to the issue given the company's reasonable valuations, strong return on equity, diverse product portfolio and well recognised promoter group.

The initial public offer (IPO) by Aditya Birla Sun Life AMC (ABAMC), among the fourth-largest asset management companies (AMC) in India, will open for subscription on Wednesday, September 29. The company, which is a joint venture between Aditya Birla Capital and Sun Life AMC, looks to raise Rs 2,768.3 crore through an offer for sale by its two promoters. Hence, the company will not receive any proceeds from the share sale. The IPO is priced at Rs 695-712 per share and investors can bid for a minimum lot of 20 shares and in multiples thereof.

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