Aditya Birla Sun Life makes a tepid debut, trades at nearly 1% discount

Our Bureau Mumbai | Updated on October 11, 2021

At 11:15 am, the stock was trading at ₹705.95 on the BSE

Shares of Aditya Birla Sun Life made a tepid debut after listing flat at ₹712 on the BSE, the same as its issue price.

Post listing, its price moved in a narrow range. At 11:15 am, it was trading at ₹705.95 on the BSE, ₹6.05 lower or at a discount of 0.85 per cent against its issue price of ₹712. It touched a high of ₹721 and a low of ₹700.

The company had fixed the issue price at ₹ 712 at the upper end of the price band of ₹ 695-712.

On the NSE, after opening at ₹715, the stock was trading at ₹706.

Market cap of Aditya Birla Sun Life stands at around ₹20,330 lakh crore.

IPO subscription

The ₹2,768-crore IPO was subscribed 5.25 times with the quota for qualified institutional investors getting subscribed more than 10 times. Retail institutional investors’ quota was subscribed 3.23 times. The quota for non-retail investors or HNIs was subscribed by 3.23 per cent. The portion reserved for Aditya Birla Capital shareholders got bids worth 1.52 times.

Ahead of the issue, the AMC had raised ₹789 crore from anchor investors. It had alloted 1,10,80,800 shares to anchor investors at ₹712 apiece, valuing the aggregate transaction at ₹788.95 crore, according to a circular uploaded on the BSE website. ICICI Prudential Mutual Fund (MF), SBI MF, SBI Life Insurance Co Ltd, Axis MF, UTI MF BNP Paribas Arbitrage, Max Life Insurance Company and HSBC Global Investment Funds are among the anchor investors.

Published on October 11, 2021

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