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The ₹2,760-crore initial public offering of Aditya Birla Sun Life AMC will open for subscription today and close on Friday (October 1). The price band of the issue is ₹695-712. Market lot is 20 shares.
The IPO is entirely an offer for sale, wherein two promoters -- Aditya Birla Capital and Sun Life (India) AMC Investments -- will divest their stake. Of the 3.88 crore shares on offer, Aditya Birla will well up to 28.51 lakh shares and Sun Life AMC 3.6 crore shares.
The proposed sale of equity shares by Aditya Birla Capital and Sun Life India in the IPO will together constitute up to 13.50 per cent of the paid-up share capital of Aditya Birla Sun Life AMC.
Anchor investors
Ahead of the issue, the AMC on Tuesday raised ₹789 crore from anchor investors. It has decided to allot 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 web site.
ICICI Prudential Mutual Fund (MF), SBI MF, SBI Life Insurance, Axis MF, UTI MF BNP Paribas Arbitrage, Max Life Insurance Company and HSBC Global Investment Funds are among the anchor investors.
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