Advertisement
Tuesday, Oct 19, 2021
Outlook.com
Outlook.com

Aditya Birla Sun Life AMC IPO Set To Open On Sep 29: Check Price Band

The IPO of up to 3.88 crore equity shares comprises an offer for sale of up to 28.51 lakh equity shares by Aditya Birla Capital and up to 3.6 crore equity shares by Sun Life AMC.

Aditya Birla Sun Life AMC IPO Set To Open On Sep 29: Check Price Band
Aditya Birla Sun Life AMC IPO Set To Open On Sep 29: Check Price Band
outlookindia.com
2021-09-24T14:25:14+05:30

Aditya Birla Sun Life AMC on Friday said it has fixed a price band of Rs 695-712 a share for its over Rs 2,768-crore initial share sale.

In a virtual press conference, the company said the three-day initial public offering (IPO) will open for subscription on September 29 and conclude on October 1.

The initial share-sale is entirely an offer for sale, wherein two promoters -- Aditya Birla Capital and Sun Life (India) AMC Investments -- will divest their stake in the asset management firm.

The IPO of up to 3.88 crore equity shares comprises an offer for sale of up to 28.51 lakh equity shares by Aditya Birla Capital and up to 3.6 crore equity shares by Sun Life AMC.

The proposed sale of equity shares by Aditya Birla Capital and Sun Life India in the IPO will together constitute up to 13.50 per cent of the paid-up share capital of Aditya Birla Sun Life AMC.

At the upper end of the price band, the initial share sale is expected to fetch Rs 2,768.25 crore.

Aditya Birla Sun Life AMC, the investment manager of Aditya Birla Sun Life Mutual Fund, is a joint venture between the Aditya Birla Group and the Sun Life Financial Inc of Canada.

(With inputs from PTI)

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Uttarakhand Rains Claim 16 Lives, Nainital Cut Off From Rest Of State

Uttarakhand Rains Claim 16 Lives, Nainital Cut Off From Rest Of State

Incessant rains continued to lash various parts of the state, razing houses to the ground and leaving many trapped in the debris.

China Has Increased Activities At 'In-Depth' Areas Near Arunachal: Eastern Army Commander

China Has Increased Activities At 'In-Depth' Areas Near Arunachal: Eastern Army Commander

'The annual training exercise that the PLA carries out there has seen some increase in the level of activities in the depth areas,' Lt Gen Manoj Pande said.

T20 World Cup, Warm-Up: India Aim To Fix Middle-Order Blues Vs AUS

T20 World Cup, Warm-Up: India Aim To Fix Middle-Order Blues Vs AUS

Ravindra Jadeja, Shardul Thakur and Varun Chakravarthy are likely to get a game vs Australia before India open their ICC Men's T20 World Cup campaign against Pakistan on October 24.

US Court Rejects Nirav Modi's Plea For Dismissal Of Fraud Allegations

US Court Rejects Nirav Modi's Plea For Dismissal Of Fraud Allegations

The allegations were made by Richard Levin, the court appointed trustee of three US corporations, indirectly owned by Nirav Modi previously.

Advertisement