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The ₹2,768 crore initial public offering of Aditya Birla Sun Life AMC was subscribed 1.07 times on the day two of the issue. The IPO closes for subscription today. The price band of the issue has been pegged at ₹695-712. Market lot is 20 shares.
The portion reserved for retail investors received bids for 200 per cent or 2 times, according to data available with the stock exchanges. While qualified institutional investors portion received bids for 0.06 times, the quota for non-retail investors or HNIs is subscribed by 40 per cent. Portion reserved for Aditya Birla Capital shareholders got 0.67 per cent. 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 sell up to 28.51 lakh shares and Sun Life AMC 3.6 crore shares.
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 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.
Paras Defence listing today
Shares of Paras Defence and Space Technologies will list on exchanges on Friday.
The company has fixed the IPO price at ₹175, at the upper end of the ₹165-175 price band. The public issue saw the largest ever subscription at 304 times.
The portion reserved for retail investors was subscribed 112.81 times and the non-Institutional Investor category, generally known as HNIs, 927.70 times. The Qualified Institutional Buyer category was subscribed 169.95 times. Overall, the issue was subscribed 304.26 times making it the most subscribed IPO in the history, followed by Salasar Technologies with 273.05 times, Apollo Micro Systems was subscribed 248.5 times.
The IPO comprised a fresh issue of up to ₹140.60 crore and an offer-for-sale of up to 17.24 lakh shares by promoters and individual stakeholders.
The company will use the funds for capital expenditure, working capital, repayment or prepayment of certain borrowings and outstanding loans
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