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Aditya Birla AMC IPO GMP, Price, Status, Opens Today, Know If You Should Subscribe

Aditya Birla AMC IPO GMP, Price, Status: Fund house Aditya Birla Sun Life AMC has come up with its public issue (IPO), which opens today.  The Aditya Birla's aims to raise around Rs 2,770 crore from this IPO.  This IPO will close on 1st October, 2021.

Aditya Birla AMC IPO GMP, Price, Status, Opens Today, Know If You Should Subscribe

Aditya Birla AMC IPO GMP, Price, Status, Date, Review

Aditya Birla AMC IPO GMP, Price: Fund house Aditya Birla Sun Life AMC has come up with its public issue, which opens today.  The Aditya Birla AMC aims to raise around Rs 2,770 crore from this initial public offering (IPO).  This initial public offering (IPO) will close on 1st October, 2021.  The price band for the three-day initial share sale has been fixed at Rs 695-712 per share.  Ahead of the launch of its IPO, the company had collected Rs 789 crore from anchor investors on Tuesday.

Also Read - Paras Defense Ipo

Is IPO purely offer for sale?

Aditya Birla AMC's Initial Public Offering (IPO) is an outright sale offer in which two promoters, Aditya Birla Capital and Sun Life (India) AMC Investments, will sale their stake in the asset management firm.

Aditya Birla AMC IPO GMP

Aditya Birla AMC IPO GMP: According to market experts, the shares of Aditya Birla AMC are available today at a premium of Rs 27 (GMP) in the gray market. Aditya Birla AMC's Gray Market is an unofficial platform where trading starts after the announcement of the IPO price band and continues till the listing of the IPO shares.

Aditya Birla Sun Life AMC IPO  

The IPO includes an offer for sale of 3.6 crore equity shares in the IPO of 28.51 lakh equity shares by Aditya Birla Capital and 3.88 crore equity shares by Sun Life AMC.  Aditya Birla Sun Life Mutual Fund Investment Manager Aditya Birla Sun Life AMC is a joint venture between Aditya Birla Group of Canada and Sun Life Financial Inc.

What is Brokerage?

Choice Broking said in an IPO note that supportive government policies for the domestic mutual fund industry, financialization of household savings, growing presence in B30 cities are positive and offer huge scope for growth and development.  Further, based on FY24E earnings, the stock is seeking a P/E valuation of 29.4x, which looks attractive for the company with a RoE reach of 25 per cent.  Therefore, on the basis of these things, he has given a subscribe rating to the issue.  Apart from this, Angel Broking has also given a subscribe rating to the IPO.

Aditya Birla Sunlife MF is the fourth largest fund house.  Its average assets under management stood at Rs 2.93 lakh crore in the June quarter.  At present, it manages 118 schemes.

Kotak Mahindra Capital Company, Citigroup Global Markets India, BofA Securities, HDFC Bank, Axis Capital, ICICI Securities, IIFL Securities, Motilal Oswal Investment Advisors, JM Financial, SBI Capital Markets and Yes Securities (India) are the seller bankers to the issue.