Aditya Birla AMC IPO: Aditya Birla’s Sun Life AMC IPO made its stock market debut today. The company’s shares are listed on NSE at Rs 715 per share amid volatility in the market. The share of Aditya Birla Sun Life AMC was flat listed at Rs 712 on the Bombay Stock Exchange (BSE). The shares of the company were sold after the listing. Even after listing in the stock market, the company’s shares fell 0.88 percent. At the same time, the stock touched a high of Rs 721.
Membership opened on 29 September
Aditya Birla Sun Life AMC opens for subscription on 29 September and closes on 1 October. The company’s IPO was subscribed 5.25 times.
In addition, the Qualified Institutional Buyers (QIB) category was subscribed 10.36 times. On the other hand, the share set for non-institutional investors was booked 4.39 times. Retail individual investors were subscribed 3.24 times.
- The company’s stock was listed at Rs 715 on NSE and flat Rs 712 on BSE.
- According to the IPO, the investors have made a profit of only Rs 3 per share.
- The price band for Aditya Birla Sun Life AMC IPO was fixed at Rs 695-712 per share.
- Its market capitalization at the time of listing was Rs 20505.60 crore.
Company business: Aditya Birla is the largest Non-Banking Affiliate AMC Company in the country. Apart from this, the company is also in the business of mutual funds. Aditya Birla Group and Canadian company Sun Life are working through a financial joint venture.
The company’s asset management stood at Rs 2.38 lakh crore for the quarter ended September 2020. Shares of HDFC AMC, UTI AMC, Nippon Life India AMC are also listed on the stock exchange.
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