Aditya Birla Group’s AMC arm, Aditya Birla Sun Life AMC IPO will open for subscription on 29 September, at a price tag band of Rs 695-712 per share of face worth of Rs 5 every. In the principal market place, Aditya Birla Sun Life AMC shares have been quoting at Rs 50 premium, more than the IPO price tag. The shares have been seen trading at Rs 762, a 7 per cent premium, more than the upper band of the situation price tag, in the grey market place, according to the individuals who deal in the unlisted shares of the organization.
Aditya Birla Sun Life AMC situation will totally be an provide-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 public provide also involves a reservation of up to 19.44 lakh equity shares, for subscription by Aditya Birla Capital Limited (ABCL) shareholders. Investors can make bids for a minimum of 20 equity shares and multiples thereafter, implying a minimum investment of Rs 14,240 per lot.
Up to half of the net provide will be reserved for Qualified Institutional Investors (QIBs), 35 per cent for retail investors and remaining 15 per cent for non-institutional investors (NIIs). Kotak Mahindra Capital Company, BofA Securities India, Citigroup Global Markets India, Axis Capital, HDFC Bank, ICICI Securities, IIFL Securities, JM Financial, Motilal Oswal Investment Advisors, SBI Capital Markets and YES Securities (India) Limited are the merchant bankers to the situation. KFin Technologies Private Ltd will be the registrar to the situation. The price tag/earnings ratio based on diluted EPS on a restated consolidated basis for FY21 at the upper finish of the price tag band is as higher as 38.97 instances.
The typical price of acquisition of equity shares for Aditya Birla Capital is Rs 2.30 and for Sun Life AMC is Rs 2.77 and provide price tag at upper finish of the price tag band is Rs 712. The weighted typical return on net worth for last 3 fiscals is 34.05 per cent. Upon listing, Aditya Birla Sun Life AMC could join the listed market peers such as HDFC Asset Management Company, Nippon Life India Asset Management and UTI Asset Management Company.