Proposed IPO of Aditya Birla AMC By Mr. Yash Gupta, Angel Broking Ltd
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The IPO comprises of an offer for sale of up to 28,50,880 equity shares of face value of Rs. 5 each held by Aditya birla capital 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.
This is a very positive development for Aditya Birla Capital, by this Aditya Birla capital will get some good amount of money for its other core business.
As we have seen in previous IPOs that there is some allocation to the shareholder of parent company in the IPO so we expect same this time also we suggest retail investor to buy very small quantity of Aditya birla capital to be eligible for shareholder category when the IPO of Aditya birla sun life amc comes in future.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
