Strengths
- Backed by one of the trusted household brands with experienced promoters
- Presence in mutual fund industry last 27 years
- For the quarter ending June, assets under management around Rs 2,80,000 crore
- Over 5.8 million customers and rapidly growing
- Only AMC has got a presence in Singapore and Dubai for the last 10-12 years
- Largest Non-bank Affiliated Asset Management Company
- Well-Diversified product portfolio and innovative schemes
Details
- Offer Opens: Wednesday, September 29, 2021
- Offer Closes: Saturday, October 1, 2021
- Price Band: Rs 695–712 per equity share
- Issue Type: Book Built Issue IPO
- Face Value: Rs 5 per equity share
- Minimum Bid Lot: 20 Equity Shares and in multiples
Our Verdict
You should apply for this IPO
Aditya Birla Sun Life AMC’s initial public offering opens on September 29. The offer will close on October 1, 2021, with a price band that ranges from Rs 695 to Rs 712 each. The total size is 38,880,000 equity shares of the face value of Rs. 5 aggregating up to Rs 2,768.26 crore. The minimum order quantity is 20 shares and in multiples of 20 thereafter.
The net proceeds from the IPO will be utilized towards achieving the benefits of listing the Equity Shares on the Stock Exchanges and carry out the Offer for Sale by the Selling Shareholders. The offer for sale comprises up to 2,850,880 equity shares by Aditya Birla Capital Limited (ABCL) and up to 36,029,120 equity shares by Sun Life (India) AMC Investments Inc. The Offer includes a reservation of up to 1,944,000 equity shares, for subscription by ABCL Shareholders.
The Equity Shares are proposed to be listed on BSE and NSE.
Incorporated in 1994, Aditya Birla Sun Life AMC is set up as a joint venture between ABCL and Sun Life AMC. The company managed a total AUM of Rs 2,736.43 billion under mutual funds, portfolio management services, offshore and real estate offerings, as of December 31, 2020. The company managed 135 schemes comprising 35 equity, 93 debt, 2 liquid schemes, 5 ETFs, and 6 domestics FoFs as of December 31, 2020.
The company’s Monthly average assets under management (MAAUM) from institutional investors was Rs 1,412.43 billion as of December 31, 2020, which was the fourth-largest among its peers, according to CRISIL. The company has automated and digitized several aspects of its operations including in relation to customer onboarding, online payments and other transactions, fund management, dealing, accounting, customer service, data analytics, and other functions.
