Aditya Birla Sun Life AMC plans to open its Initial Public Offering on September 29, 2021.
The Price Band of the Offer has been fixed at Rs 695 to Rs 712 per equity share. The bid lot is 20 equity shares and in multiples of 20 equity shares thereafter.
Aditya Birla Sun Life AMC Ltd (ABSLAMC), the investment manager of Aditya Birla Sun Life Mutual Fund, is a joint venture between Aditya Birla Group and Sun Life Financial Inc of Canada.
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 offer includes a reservation of up to 1,944,000 equity shares, for subscription by Aditya Birla Capital Limited (ABCL) shareholders.
Investors can bid for a minimum 20 equity shares and in multiples of 20 shares thereafter. 50 percent of the offer is reserved for qualified institutional buyers (QIBs), whereas rest 35 percent and 15 percent for retail investors and non-institutional investors (NIIs) respectively.
The objectives of the IPO is achieve the benefits of listing the Equity Shares on the Stock Exchanges; and carry out the Offer for Sale of up to 3.88 crore equity shares by the shareholders.
Kotak Mahindra Capital Company Limited, BofA Securities India Limited and Citigroup Global Markets India Private Limited are the Global Co-orditators and Book Running Lead Managers to the offer. Axis Capital Limited, HDFC Bank Limited, ICICI Securities Limited#, IIFL Securities Limited, JM Financial Limited, Motilal Oswal Investment Advisors Limited, SBI Capital Markets Limited and YES Securities (India) Limited are the book running lead managers to the Offer.
The Equity Shares are proposed to be listed on BSE and NSE.
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