Aditya Birla Sun Life IPO Opening Today, Know Details

Aditya Birla Sun Life IPO Opening Today, Know Details Before Investing. IPO of ABSL AMC is opening for subscription on 29th September i.e. today.

This IPO will close on October 1. Recently, the company has received approval for Initial Public Offering (IPO) from the Securities and Exchange Board of India (Sebi).

As per the documents submitted by the company, this IPO is purely in the form of an Offer for Sale (OFS).

The company’s two promoters ABC and Sun Life (India) AMC Investments will divest their stake in the asset management firm (AMC).

For this, the price band has been kept from Rs 695 to 712.

Regarding investing in this IPO, most brokerage houses are of the opinion that the investor should invest money in it.

Many brokerage houses including Anand Rathi, BP Equities, Canara Bank Securities Limited are giving the advice to invest in this.

Bid for a maximum of 280 shares.

The investor can bid for a lot of 20 shares or a maximum of 280 shares. Aditya Birla Capital will make an offer for the sale of 28.51 lakh shares under this 3.88 crore shares IPO.

At the same time, Sun Life AMC will offer a sale of 3.6 crore shares.

Was applied in April.

The asset management company had submitted documents for the IPO with SEBI in April.

SEBI’s comment on this was received on August 5. SEBI’s comment for a public issue is in a way a green signal in the case of a public issue.

Merchant banking sources said the IPO is expected to garner Rs 1,500-2,000 crore depending on the industry average price realization ratio.

Two shareholders of the company.

The company’s two promoters Aditya Birla Capital and Sun Life (India) AMC Investments will divest their stake in the asset management firm (AMC).

Listing on BSE.

The IPO is likely to be listed on BSE and NSE.

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