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Aditya Birla Capital (ABCL) said that its material subsidiary Aditya Birla Sun Life AMC Limited (ABSLAMC) has filed a draft red herring prospectus (DRHP) with Sebi for an initial public offering (IPO). Aditya Birla Sun Life AMC (ABSLAMC), a material subsidiary of Aditya Birla Capital (ABCL), filed a draft red herring prospectus (DRHP) dated 19th April 2021 with the Securities and Exchange Board of India (Sebi) for an initial public offering by way of an offer for sale (IPO) of shares of ABSLAMC, subject to relevant approvals as required.

ABCL has approved sale of up to 28,50,880 equity shares of face value of Rs. 5 each held in ABSLAMC out of the total paid-up share capital of 28,80,00,000 equity shares of ABSLAMC. Sun Life (India) AMC Investments Inc. (Sun Life India), the joint venture shareholder in ABSLAMC, approved sale of up to 3,60,29,120 equity shares of face value of Rs. 5 each held in ABSLAMC through the IPO.

The proposed sale of equity shares by ABCL and Sun Life India in the IPO will together constitute up to 13.50% of the paid-up share capital of ABSLAMC. The announcement was made before market hours today, 20 April 2021. Shares of Aditya Birla Capital fell 3.87% to settle at Rs 115.45 yesterday. Aditya Birla Capital (ABCL) is the holding company for the financial services businesses of the Aditya Birla Group. With subsidiaries that have a strong presence across Protecting, Investing and Financing solutions, ABCL is a financial solutions group that caters to diverse needs of its customers across their life cycle.