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Aditya Birla Sun Life Amc Ipo has subscribed 72% so far on day 2


Aditya Birla Sun Life AMC’s initial public offering (IPO) worth Rs 2,768 crore has been subscribed at 72 percent so far on Thursday – the second day of the tender. The public issue – which is entirely an offer to sell – was opened for subscription on Wednesday and will close on Friday, October 1.

At 11:21 am, the Aditya Birla Sun Life AMC issue received an offer for approximately 1.9 crore of shares, which represents a subscription of 72% of the total of 2.8 crore of shares offered.

On Wednesday, the first day of the tender process, the IPO registered a subscription of 56%, the part reserved for individual retail investors (RII) having been subscribed 1.1 times and that of non-institutional investors. 14%.

In the primary market bid, Aditya Birla Sun Life AMC shares are available to bid in multiples of 20 in the price range of Rs 695-712. At the upper end of the strip, one lot will cost bidders Rs 14,240.

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The proposed sale of shares by Aditya Birla Capital and Sun Life India in connection with the IPO will together constitute up to 13.5 percent of the paid-up share capital of Aditya Birla Sun Life AMC.

Aditya Birla Sun Life AMC said on Tuesday that it had raised Rs 789 crore from key investors.

Aditya Birla Sun Life AMC, the investment manager of Sun Life Aditya Birla Mutual Fund, is a joint venture between Aditya Birla Group and Sun Life Financial of Canada. Its listed peers are Nippon Life India Asset Management, HDFC AMC and UTI AMC.

(Edited by : Sandeep Singh)

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