Aditya Birla Sun Life AMC makes flat debut on BSE, NSE
Asset management firms like Nippon Life India Asset Management, HDFC AMC, and UTI AMC are already listed on the stock exchanges.
Shares of Aditya Birla Sun Life AMC made a flat debut on the bourses on Monday against its issue price of Rs 712. The scrip listed at Rs 712 on the BSE. On the NSE, shares of the company listed 0.42% higher at Rs 715. Earlier, the initial public offer of the company got subscribed by 5.25 times. The Rs 2,768.25-crore initial share sale received bids for 14,59,97,120 shares against 2,77,99,200 shares on offer, according to an update on the NSE.
The category meant for Qualified Institutional Buyers (QIBs) received 10.36 times subscription, that for non-institutional investors 4.39 times and Retail Individual Investors (RIIs) 3.24 times. The initial public offer was of 38,880,000 equity shares in a price range of Rs 695-712 per share. Aditya Birla Sun Life AMC had collected Rs 789 crore from anchor investors.
Aditya Birla Sun Life AMC Ltd, 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.
Asset management firms like Nippon Life India Asset Management, HDFC AMC, and UTI AMC are already listed on the stock exchanges.
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 were the manager to the offer.
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