window to subscribe Aditya Birla Sun Life AMC IPO (Initial Public Issue) closed yesterday and the public issue of ₹2,768.26 crore got subscribed 5.25 times its offer. The public offering was subscribed 3.24 times in the retail category, 10.36 times in the QIB category and 4.39 times in the NII category. NS Initial Public Offering (IPO) Aditya Birla’s AMC was fully subscribed on the second day as well and the bidding was done on Thursday as well. On Thursday, which was the second day of bidding, applications were seen for 2,99,41,640 shares, while the issue size was 2,77,99,200 shares. This implied a subscription of 1.08 times.
Here’s a brief rundown of what you need to know about Sansera Engineering IPO before listing:
Aditya Birla AMC IPO Overview
The company and its promoters plan to raise Rs 2,768 crore from the market. The initial share-sale is an offer for sale outright, involving two promoters – Aditya Birla Capital and Sun Life (India) AMC Investments. The price band of the public offering was fixed at Rs 695-712 per share for its initial share-sale of over Rs 2,768 crore. The IPO of 3.88 crore equity shares includes an offer for sale of 28.51 lakh equity shares by Aditya Birla Capital and 3.6 crore equity shares by Sun Life AMC. Half of the issue size is reserved for Qualified Institutional Buyers (QIBs), 35 percent for retail investors and the remaining 15 percent for non-institutional investors.
Aditya Birla IPO Gray Market Premium
The GMP of Aditya Birla Sun Life Shares IPO was trading at Rs 20 as on October 1, which means the company’s shares were trading at a premium to its issue price price i.e. Rs 695-712. This has led to an increase of 102.03 percent in its listings.
Aditya Birla AMC IPO Allotment, Listing Date
The IPO was opened for subscription on 29 September and membership ended on 1 October. The basis of allotment will be on October 6, 2021. The refund will be on October 7,2021. The credit in the demat account will happen on October 8, 2021. The company will be listed on October 11.
Aditya Birla IPO Membership Status (Club Lot Size & Membership)
Bidding for the Aditya Birla Sun Life AMC IPO (Initial Public Offering) closed yesterday and the ₹2,768.26 crore public issue was subscribed 5.25 times its offer. The public offering was subscribed 3.24 times in the retail category, 10.36 times in the QIB category and 4.39 times in the NII category. According to market observers, the 100 per cent OFS (Offer for Sale) probably did not go down well with the bidders, which was reflected in the ‘slow’ subscription to the public issue, though the financial position of the company is quite promising.
Company Outlook
“The company is offering the issue at a price band of 39x the P/E multiple of Rs 695-712 per share on PAT basis for FY21. The company is the largest Non-Bank Associated Asset Manager in India and one of the four largest AMCs in India by QAAUM since 30th September, 2011, having a well recognized brand with experienced promoters. Also, the company’s growing individual investor client base is driven by strong systematic inflows and B-30 penetration. Aditya Birla AMC IPO The company has a pan-India, diversified distribution network with a long-term track record of technology use and innovation; and franchise led by experienced and stable management and investment teams. Therefore, looking at all, we recommend that you “subscribe” to the issue, Hem Securities said in a note.
At present, it manages 118 schemes. The Company has managed 135 schemes comprising of 35 Equity, 93 Debt, 2 Liquid Schemes, 5 ETFs, and 6 Domestic FOF as on 31st December, 2020. The company’s Monthly Average Asset Management (MAAUM) from institutional investors stood at Rs 1,412.43 billion as of December. 31, 2020, which according to CRISIL, was the fourth highest among its peers. Since its inception in 1994, the fund house has established a geographically diverse pan-India distribution presence covering 284 locations spread across 27 states and six union territories.
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