20/04/2021 12:33:21 PM | Source: Angel Broking Ltd
Proposed IPO of Aditya Birla AMC By Mr. Yash Gupta, Angel Broking Ltd
Below are Views On Proposed IPO of Aditya Birla AMC by Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd
Aditya Birla Sun Life AMC (ABSLAMC), a subsidiary of Aditya Birla Capital (ABCL) has filed DRHP (Draft red herring prospectus) on 19th April 2021 with SEBI (Securities and Exchange Board of India) for its Initial public offering (IPO) by the way of Offer for sale of shares of aditya birla sun life amc.
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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