Aditya Birla Sun Life AMC IPO opens on September 29: Key things to know
Aditya Birla Sun Life AMC IPO
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- Company Profile: Incorporated in 1994, Aditya Birla Sun Life AMC is set up as a joint venture between ABCL and Sun Life AMC. The company managed a total AUM of ₹2,736.43 Bn under mutual fund (excluding domestic FoFs), portfolio management services, offshore and real estate offerings, as of December 31, 2020. The company managed 135 schemes comprising 35 equity, 93 debt, 2 liquid schemes, 5 ETFs, and 6 domestics FoFs as of December 31, 2020. The company’s Monthly average assets under management (MAAUM) from institutional investors was ₹1,412.43 Bn as of December 31, 2020, which was the fourth-largest among its peers, according to CRISIL.
- Objective: Achieve the benefits of listing the Equity Shares on the Stock Exchanges, and Carry out the Offer for Sale of up to 38,880,000 Equity Shares by the Selling Shareholders.
- Promotors: Aditya Birla Capital Limited (ABCL) and Sun Life (India) AMC Investments Inc. are the company promoters.
- Aditya Birla Sun Life AMC, promoted by Aditya Birla Capital and Sun Life (India) AMC Investments Inc, has decided to launch its maiden public offer for subscription on September 29. The price band for the offer has been fixed at Rs 695-712 per equity share.
- The company will offer 3,88,80,000 equity shares through its public issue. It is an entirely offer for sale (OFS) issue by promoters. Aditya Birla Capital will sell more than 28.5 lakh shares and Sun Life (India) AMC Investments Inc will offload more than 3.6 crore equity shares through an offer for sale.
- The offer includes a reservation of 19.44 lakh equity shares for Aditya Birla Capital shareholders.
The offer will close on October 1. Anchor book, if any, will open for a single day on September 28, a day before the issue opening.
- Aditya Birla Sun Life AMC plans to raise Rs 2,768.25 crore through its public issue. Since it is entirely an OFS issue, the proceeds from the issue will go to the selling shareholders and the company will not receive any funds from the offer.
- Investors can bid for a minimum of 20 equity shares and in multiples of 20 shares thereafter. The minimum investment by the retail investors would be Rs 14,240 for a single lot and the maximum would be Rs 1,99,360 for 14 lots.
- Half of the offer is reserved for qualified institutional buyers, 35 percent for retail investors, and the remaining 15 percent for non-institutional investors.
- Financials:
| Particulars | For the year/period ended (₹ in millions) | ||||
|---|---|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |||
| Total Assets | 19,845.51 | 15,719.59 | 14,984.60 | ||
| Total Revenue | 12,058.41 | 12,347.68 | 14,072.50 | ||
| Profit After Tax | 5,262.80 | 4,944.02 | 4,467.99 | ||
- Important Dates:
| IPO Opening Date | Sep 29, 2021 |
| IPO Closing Date | Oct 1, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹5 per equity share |
| IPO Price | ₹695 to ₹712 per equity share |
| Market Lot | 20 Shares |
| Min Order Quantity | 20 Shares |
| Listing At | BSE, NSE |
| Issue Size | 38,880,000 Eq Shares of ₹5 (aggregating up to ₹2,768.26 Cr) |
| Offer for Sale | 38,880,000 Eq Shares of ₹5 (aggregating up to ₹2,768.26 Cr) |
Aditya Birla Sun Life AMC IPO Tentative Timetable
The Aditya Birla Sun Life AMC IPO open date is Sep 29, 2021, and the close date is Oct 1, 2021. The issue may list on Oct 11, 2021.
| IPO Open Date | Sep 29, 2021 |
| IPO Close Date | Oct 1, 2021 |
| Basis of Allotment Date | Oct 6, 2021 |
| Initiation of Refunds | Oct 7, 2021 |
| The credit of Shares to Demat Account | Oct 8, 2021 |
| IPO Listing Date | Oct 11, 2021 |
Aditya Birla Sun Life AMC IPO Lot Size
The Aditya Birla Sun Life AMC IPO market lot size is 20 shares. A retail-individual investor can apply for up to 14 lots (280 shares or ₹199,360).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 20 | ₹14,240 |
| Maximum | 14 | 280 | ₹199,360 |
Our Suggestion/Views
Himanshu Gyan (Investing & learning Simplified) suggesting investors should apply for this IPO to get the listing gain.
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Source: Chittorgarh & Moneycontrol
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