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Aditya Birla Sun Life AMC, a material subsidiary of Aditya Birla Capital Limited, has filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering by way of an offer-for-sale of shares.
Aditya Birla Capital has approved sale of up to 28,50,880 equity shares of face value ₹5 each held in ABSLAMC out of the total paid-up share capital of 28,80,00,000 equity shares.
Further, the joint venture partner of the AMC, Sun Life (India) AMC Investments Inc will offload up to 3,60,29,120 equity shares in the IPO.
The proposed sale of equity shares by ABCL and Sun Life India in the IPO will together constitute up to 13.50 per cent of the paid-up share capital of ABSL AMC.
Global co-ordinators and book running lead managers for the issue include Kotak Mahindra Capital Company, BofA Securities and Citigroup Global Markets India.
Book running lead managers include Axis Capital, HDFC Bank, ICICI Securities, IIFL Securities, JM Financial, Motilal Oswal Investment Advisors, SBI Capital Markets and YES Securities (India).
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