Aditya Birla Sun Life AMC IPO: Check grey market premium, allotment status and listing date

The grey market premium (GMP) for initial public offer of Aditya Birla Sun Life AMC has fallen below the initial public offer (IPO) price. The issue's GMP is trading Rs 2 below the issue price of Rs 712 per share.

The allotment of shares for the IPO will be done on October 6.  Initiation of refunds for those unsuccessful in the allotment process will be done on October 7.

The shares will be credited to the demat accounts of successful applicants on October 8, 2021.

The equity share is likely to be listed October 11, 2021. The issue was subscribed 5.24 times on October 1, the last day of the IPO. Investors placed bids for 14.56 crore equity shares against offer size of 2.77 crore equity shares, garnering bids worth Rs 2,347 crore.

Qualified institutional buyers subscribed to 10.36 times their reserved portion and non-institutional investors put in bids for 4.39 times the allotted portion.

Retail investors applied for bids 3.24 times the portion set aside for them. Bids by shareholders of the firm were 1.53 times their reserved portion.

Those who have applied in the IPO can check the status of allotment via BSE and the registrar's websites. KFin Technologies is the registrar to the IPO.

Here's how you can check the status of allotment of shares.

Stock exchange website

Step 1: Visit the official BSE website.

Step 2: On the BSE homepage, click on 'Equity'. A dropdown menu will appear. Select ' Aditya Birla Sun Life AMC '.

Step 3: Enter your application and PAN number.

Step 4: After entering the details, click on 'Search'. After clicking on the 'Search' button, details of the number of shares subscribed and the number of shares allotted to you will be displayed.

On KFin Technologies

- Go to the online portal

-Click on the drop-down menu and select the company name as Aditya Birla Sun Life AMC in the drop-down menu of the investor's centre section. - Enter your Permanent Account Numbers (PAN) or application number or Client ID.

- After entering the given captcha code, investors can click on submit button and view their allotment status.

The IPO involved sale of 3,88,80,000 equity shares through which the AMC plans to collect Rs 2,768.25 crore from the issue. The IPO will close on October 1.

The issue comprised an offer for sale of up to 28.51 lakh equity shares by Aditya Birla Capital and up to 3.6 crore equity shares by Sun Life AMC.

On September 28, the AMC garnered Rs 789 crore from anchor investors. Allotment of 1,10,80,800 shares was done to anchor investors at Rs 712 apiece, valuing the aggregate transaction at Rs 788.95 crore.

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 were among the anchor investors.

Shares in the IPO are available at a price band of Rs 695-712 per share.

The IPO was entirely an offer for sale, wherein two promoters -- Aditya Birla Capital and Sun Life (India) AMC Investments - sold their stake in the asset management firm.

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.

Aditya Birla Sun Life AMC Ltd, the investment manager of Aditya Birla Sun Life Mutual Fund, is a joint venture between Aditya Birla Group and Sun Life Financial Inc of Canada.