The Board of Directors of Aditya Birla Capital Limited ('ABCL' / the 'Company') had earlier accorded its approval for the initial public offering by way of an offer for sale ('IPO') of Aditya Birla Sun Life AMC Limited ('ABSLAMC'), a material subsidiary of the Company, and had also approved sale of up to 28,50,880 equity shares of face value of Rs. 5 each held by the Company in ABSLAMC out of the paid-up share capital of 28,80,00,000 equity shares of face value of Rs. 5 each of ABSLAMC in the IPO.
ABSLAMC had filed a draft red herring prospectus dated April 19, 2021 with the Securities and Exchange Board of India in relation to the IPO. 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 the Company 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.
ABCL has been informed by ABSLAMC that the Red Herring Prospectus ('RHP') dated 22 September 2021 filed by ABSLAMC with the Registrar of Companies, Maharashtra at Mumbai, has been approved on 23 September 2021.
As per the RHP, the IPO includes a reservation of up to 1,944,000 equity shares for purchase by individual and Hindu Undivided Family ('HUF') who are public shareholders of ABCL, (excluding depository receipt holders of ABCL and such other persons not eligible to invest in the IPO under applicable laws, rules, regulations and guidelines), as on the date of filing of RHP i.e. 22 September 2021.
The IPO will be open for subscription by Anchor Investors on 28 September 2021 and by the public on 29 September 2021 and shall close on 1 October 2021. The price band for the IPO has been fixed at Rs. 695 to 712 per equity share of face value of Rs. 5 each of ABSLAMC. The minimum bid lot for the IPO has been fixed at 20 equity shares of face value of Rs. 5 each of ABSLAMC and applications may be made in multiples of 20 equity shares thereafter.
Shares of Aditya Birla Capital Ltd was last trading in BSE at Rs. 113 as compared to the previous close of Rs. 109.95. The total number of shares traded during the day was 873851 in over 6147 trades.
The stock hit an intraday high of Rs. 115.1 and intraday low of 110.2. The net turnover during the day was Rs. 99201381.