INSUBCONTINENT EXCLUSIVE:
Aditya Birla Sun Life AMC's IPO was subscribed 5.24 times.Aditya Birla Sun Life AMC's share sale via initial public offering (IPO) was
subscribed 5.24 times by the end of the final day of the bidding on October 1
Aditya Birla Sun Life AMC shares received 14.56 crore bids for 2.77 crore shares on the offer
A total of 3.36 crore bids were received at the cut-off price, data from the National Stock Exchange showed.Aditya Birla Sun Life AMC shares
were in high demand among the qualified institutional buyers (QIBs) as the portion reserved for them was subscribed 4.1 times and foreign
institutional investors (FIIs) placed bids for 78.87 lakh shares.Domestic financial institutions comprising of banks/ financial
institutions/insurance companies placed 51.86 lakh bids for Aditya Birla Sun Life AMC shares.Retail investors which have shown high demand
for shares in the ongoing IPOs showed tepid response to Aditya Birla Sun Life AMC IPO as the portion reserved for retail investors was
Portion for non-institutional investors was subscribed 2.6 times and portion set asideAditya Birla Sun Life AMC's raised Rs 2,768 crore
via which IPO opened for bidding on September 29
The IPO was an offer for sale (OFS) of up to 28.51 lakh shares by Aditya Birla Capital and up to 3.6 crore shares by Sun Life AMC
The company had offered shares in the price band of Rs 695-712 per share.Aditya Birla Sun Life AMC is a joint venture between the Aditya
Birla Group and the Sun Life Financial Inc of Canada
It had average assets under management of Rs 2.93 lakh crore as of the June quarter and manages 118 schemes.Kotak Mahindra Capital Company,
BofA Securities, Citigroup Global Markets India, Axis Capital, HDFC Bank, ICICI Securities, IIFL Securities, JM Financial, Motilal Oswal
Investment Advisors, SBI Capital Markets and YES Securities (India) are the merchant bankers to the issue.
