Due to the news of IPO, the shares of AB Capital, the parent company of this AMC, also rose. The stock is trading at a price of Rs 118.25 with a strength of 2.43%.
IPO: The company that manages the money of your mutual fund is now preparing to step into the stock market. Aditya Birla Sunlife Asset Management Company, which provides and manages the top mutual funds in the country, is turning towards raising money from the stock market. In the information given on BSE, Aditya Birla Capital has said that he has applied to the market regulator for the IPO of his subsidiary ABSL AMC.
The news of this AMC’s parent company, Birla Capital, also rose. The stock is trading 2.43 per cent strong at Rs 118.25 per share on the BSE.
India’s leading fund house company Aditya Birla Sun Life Asset Management Company (Aditya Birla Sun Life Asset Management Company) has submitted draft red herring prospectus papers to the market regulator SEBI for Initial Public Offering (IPO). AMC’s parent company Aditya Birla Capital has informed the stock exchanges that they are selling 28,50,880 shares of ABSL AMC with face value of Rs 5.
ABSL is a joint venture of AMC Aditya Birla Group and Sun Life India AMC Investment (Sun Life India Investments). In this IPO, Sun Life India AMC has approved to sell 3,60,29,120 shares. Together these two partners will sell 13.5 per cent of the total paid-up share capital of the company.
According to data given on ACE MF, the asset under management of Aditya Birla Sunlife Asset Management Company (ABSL AMC) as on 31 March 2021 is more than Rs 2.58 lakh crore. Of this AUM, AMC has invested Rs 91,486 crore in equity, while 1.46 lakh crore is invested in debt options. Most of the investment in AMC’s AUM is of debt investment – about 61 per cent.
The company has stated in DRHP that its distribution network is wide in 27 states and 6 union territories across the country. ABSL AMC has presence in total 284 places in these states. Along with this, the online hold by the company is also strong.
The AUM of Aditya Birla Sun Life was Rs 747 crore in March 2010, which had increased to Rs 2971 crore by December 2020. The company has shown a CAGR of 13.7 percent.
