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Aditya Birla Sun Life AMC IPO To Open Tomorrow: Key Things To Know

Aditya Birla Solar Life AMC is a JV between Aditya Birla Group and Solar Life Monetary Inc of Canada

Aditya Birla Solar Life AMC’s Rs 2,768.25 crore preliminary public providing (IPO) will open for subscription tomorrow i.e. September 29 and can shut on October 1. The difficulty is a suggestion on the market of as much as 28.51 lakh shares by Aditya Birla Capital and as much as 3.6 crore shares by Solar Life AMC, constituting 13.50 per cent of the corporate’s post-offer paid up fairness share capital. Aditya Birla AMC has mounted the value band for the provide at Rs 695-712 per share.

Buyers can bid for at least 20 shares and in multiples of 20 thereafter, extending as much as 13 heaps. A complete of 50 per cent of the difficulty dimension has been reserved for certified institutional consumers, 35 per cent for retail traders and the remaining 15 per cent for non-institutional traders.

The corporate is not going to obtain any IPO proceeds as it’s a suggestion on the market. All of the funds, excluding problem bills, will go to the promoting shareholders.

Aditya Birla Solar Life AMC is a three way partnership between the Aditya Birla Group and the Solar Life Monetary Inc of Canada. It had common belongings beneath administration of Rs 2.93 lakh crore as of the June quarter and manages 118 schemes beneath its suite of mutual funds (excluding its home fund-of-funds), portfolio administration companies, offshore and actual property choices.

Kotak Mahindra Capital Firm, BofA Securities, Citigroup International Markets India, Axis Capital, HDFC Financial institution, ICICI Securities, IIFL Securities, JM Monetary, Motilal Oswal Funding Advisors, SBI Capital Markets and YES Securities (India) are the service provider bankers to the difficulty.

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