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Aditya Birla Sun Life AMC IPO: To open on Sept 29; price band fixed at Rs 695-712

Aditya Birla Sun Life AMC IPO: To open on Sept 29; price band fixed at Rs 695-712

The minimum bid lot for the IPO has been fixed at 20 equity shares, and applications can be made in multiples of 20

BusinessToday.In
  • Updated Sep 24, 2021 9:45 AM IST
Aditya Birla Sun Life AMC IPO: To open on Sept 29; price band fixed at Rs 695-712Aditya Birla Capital board approves ABSLAMC IPO

The Aditya Birla Capital (ABCL) board of directors has approved the initial public offering by way of an offer for sale of Aditya Birla Sun Life AMC (ABSLAMC). The IPO will be open for subscription for anchor investors on September 28 and for the public on September 29. The public offering will close on October 1.

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The price band for the IPO has been fixed at Rs 695-712 per equity share. The minimum bid lot for the IPO has been fixed at 20 equity shares, and applications can be made in multiples of 20.

“In the said letter, we had also informed you that IPO comprises of an offer for sale of up to 28,50,880 equity shares of face value of Rs. 5 each held by the Company in ABSLAMC and sale of up to 3,60,29,120 equity shares of face value of Rs. 5 each held by Sun Life (India) AMC Investments Inc. in ABSLAMC, together constituting up to 13.50% of the paid-up share capital of ABSLAMC,” stated the company in a filing.

ABSLAMC stated that they had filed a draft red herring prospectus with the Securities and Exchange Board of India on April 19. The red herring prospectus filed with the Registrar of Companies on September 22 was approved on September 23, it added.

According to the RHP, the IPO includes a reservation of up to 1,944,000 equity shares for purchase by individual and Hindu Undivided Family who are public shareholders of ABCL.

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Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Sep 24, 2021 9:45 AM IST
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