Get App
Aditya Birla Sun Life (ABSL) AMC initial public offering (IPO) is set to open for subscription on September 29 and end on October 1. The price band for the IPO is fixed at Rs 695 to 712 per share.
The IPO is fully an offer for sale (OFS) of up to 3.88 crore equity shares. The OFS comprises of sale of 28.51 lakh equity shares by Aditya Birla Capital and 3.60 crore equity shares sale by Sun Life AMC.
The offer also includes a reservation of up to 19.44 lakh equity shares, for subscription by Aditya Birla Capital Limited (ABCL) shareholders.
Company Summary
Aditya Birla Sun Life AMC Limited is a joint venture between the Aditya Birla Capital Limited and Sun Life (India) AMC Investments Inc. Currently, Aditya Birla Capital owns 51% and Sun Life has 49% stake in ABSL AMC.
Aditya Birla Sun Life AMC is one of the biggest AMCs in India with a total asset under management of Rs 2,936.42 billion as of June 30.2021, under their suite of mutual fund (excluding domestic funds of funds), portfolio management services, offshore and real estate offerings.
The company has managed 118 schemes including 37 equity schemes, 68 debt schemes, two liquid schemes, five ETFs and six domestic Funds of Funds, as of June 30, 2021.
The company was incorporated in 1994 and it commenced operation in the same year. In all these years, the company has spread its wings across 284 location in 27 states and 6 union territories. The company has a wide distribution network with a significant physical and digital presence.
Company Strengths
- Largest non-bank affiliated asset management company in India.
- Well recognized brand with experienced promoters.
- Rapid growth in customer base.
- Well-Diversified product portfolio with good fund performance.
- Expansive distribution network with pan-India presence.
Company Promoters
Promoters of the company are Aditya Birla Capital Limited (ABCL) and Sun Life AMC.
Financial Summary
Particulars | For the period/year ended (Rs in millions) | |||
30-Jun-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
Total Assets | 20,858.78 | 19,845.51 | 15,719.59 | 14,984.60 |
Total Revenue | 3,362.45 | 12,058.41 | 12,347.68 | 14,072.50 |
Profit After Tax | 1,549.44 | 5,262.80 | 4,944.02 | 4,467.99 |
Purpose of the IPO
The purpose of the IPO are as follows,
- To achieve the benefits of listing the equity shares on the stock exchanges by selling 38,880,000 equity shares.
- The shareholders who are selling the shares will have the right to the entire proceeds from the offer for sale after deducting the expenses and relevant taxes.
- Further, the company expects that the proposed listing will enhance their brand image and visibility.
IPO Details
IPO Opening Date | September 29, 2021 |
IPO Closing Date | October 1, 2021 |
Issue Type | Book Built Issue IPO |
Face Value | Rs 5 per equity share |
IPO Price | Rs 695 to Rs 712 per equity share |
Market Lot | 20 Shares |
Min Order Quantity | 20 Shares |
Listing At | BSE, NSE |
Issue Size | Rs 2,768.26 crore |
IPO Listing Date | October 11, 2021 |
IPO Lot Size
Application | Lots | Shares | Amount (Cut-off) |
Minimum | 1 | 20 | Rs 14,240 |
Maximum | 14 | 280 | Rs 1,99,360 |