Aditya Birla Sun Life AMC to Launch IPO in September

After receiving the green light from India’s Securities and Exchange Board (SEBI), Aditya Birla Sun Life is preparing to go public by the end of September 2021. Sources close to the company and lead managers have confirmed it. They are currently preparing the required documents, and updates will follow soon, as per a senior employee of the AMC.

Aditya Birla Sun Life has recently, on 5 August, received its approval from SEBI to initiate an IPO. The AMC, which was formed jointly between Sun Life Financial of Canada and India’s Aditya Birla Group, filed the preliminary papers back in April.

As mentioned in its official papers for IPO, Aditya Birla Sun Life AMC will only conduct an offer for sale. Aditya Birla Sun Life will sell around 3.88 crore equity shares at face value of Rs. 5 each.

According to the DRHP, the two promoters of Aditya Birla Capital and Sun Life (India) AMC Investments will divest their stakes.

Jointly, the promoters will sell 13.6% of their stake, where –

• Aditya Birla Capital will sell 3.6 crores shares
• Sun Life (India) will sell 28.51 lakh shares

With this IPO, the AMC is planning to raise about Rs. 3000 crores through the sale of shares and targeting a valuation of about Rs. 24,000 crores.

Moving Ahead

The company is yet to confirm the final dates of this initial public offering. Once listed, Aditya Birla Sun Life AMC will become the fourth Indian fund house to be a part of Dalal Street after Nippon, HDFC and UTI.

Aditya Birla Sun Life AMC has appointed the following companies as their lead managers –

1. Kotak Mahindra Capital Company Limited
2. Citigroup Global Markets India Private Limited
3. BofA Securities India Limited
4. HDFC Bank Limited
5. Axis Capital Limited
6. JM Financial Limited
7. IIFL Securities Limited
8. ICICI Securities Limited
9. Motilal Oswal Investment Advisors Limited
10. YES Securities (India) Limited
11. SBI Capital Markets Limited

Know the Reasons Why Aditya Birla Sun Life Can be a Good Investment Option

Aditya Birla Sun Life is one of the leading asset management companies in this country. As per their quarterly report, as of June 2021, the company has an AUM (asset under management) of Rs. 2.75 lakh crore.

The diversified service portfolio and a variety of mutual fund options make this AMC a popular choice among Indian investors.

The company has also recorded a net profit of Rs. 206 crores, accounting for a growth of 58%, in the quarter ended in June 2021.

Bottom Line

Being one of the leading players in the AMC business, Aditya Birla Sun Life possess growth potential. Glancing over their financials will reflect that the company is well-positioned in its business verticals and generating steady revenue. Nonetheless, if you are interested, make sure you gather ample information and learn more about the organisation before making any decision.

Planning to subscribe to Aditya Birla Sun Life IPO? Keep referring to Angel One Blog for the latest updates.

Frequently Asked Questions

1. Who is the registrar of Aditya Birla Sun Life IPO?

KFin Technologies Private Limited is the registrar of Aditya Birla Sun Life IPO.

2. What is the price band of Aditya Birla Sun Life IPO?

No news regarding the price band of Aditya Birla Sun Life IPO is available yet.

3. What is the listing date of Aditya Birla Sun Life IPO?

No news on the listing date of Aditya Birla Sun Life IPO is available yet.