Aditya Birla Sun Life AMC Limited files Draft Red Herring Prospectus with SEBI

Aditya Birla Sun Life AMC Limited (ABSLAMC), a material subsidiary of Aditya Birla Capital Limited (ABCL), filed a draft red herring prospectus (DRHP) dated 19th April 2021 with the Securities and Exchange Board of India ('SEBI') for an initial public offering by way of an offer for sale ("IPO") of shares of ABSLAMC, subject to relevant approvals as required.

Aditya Birla Capital Limited (ABCL) has approved sale of up to 28,50,880 equity shares of face value of Rs. 5 each held in ABSLAMC out of the total paid-up share capital of 28,80,00,000 equity shares of ABSLAMC.

Sun Life (India) AMC Investments Inc. ("Sun Life India"), the joint venture shareholder in ABSLAMC, approved sale of up to 3,60,29,120 equity shares of face value of Rs. 5 each held in ABSLAMC through the IPO.

The proposed sale of equity shares by ABCL and Sun Life India in the IPO will together constitute up to 13.50% of the paid-up share capital of ABSLAMC.

Shares of Aditya Birla Capital Ltd was last trading in BSE at Rs.115.45 as compared to the previous close of Rs. 120.1. The total number of shares traded during the day was 288053 in over 2166 trades.

The stock hit an intraday high of Rs. 118 and intraday low of 113. The net turnover during the day was Rs. 33168608.

Source : Equity Bulls

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