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Aditya Birla Sun Life AMC files papers with Sebi for IPO

Aditya Birla Sun Life AMC files papers with Sebi for IPO
outlookindia.com
1970-01-01T05:30:00+0530
(Eds: Minor edit in intro)

New Delhi, Apr 20 (PTI) Aditya Birla Capital on Tuesday said its arm Aditya Birla Sun Life AMC has filed a draft red herring prospectus (DRHP) with capital markets regulator Sebi to launch its initial public offering (IPO).

"Aditya Birla Sun Life AMC Ltd (ABSLAMC), a material subsidiary of Aditya Birla Capital, filed a draft red herring prospectus (DRHP) dated 19th April 2021 with the Securities and Exchange Board of India 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 said in a regulatory filing. 

Aditya Birla Capital 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 Aditya Birla Sun Life AMC, the company added. 

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

The proposed sale of equity shares by Aditya Birla Capital and Sun Life India in the IPO will together constitute up to 13.50 per cent of the paid-up share capital of Aditya Birla Sun Life AMC, Aditya Birla Capital said.

Aditya Birla Sun Life AMC Ltd, the investment manager of Aditya Birla Sun Life Mutual Fund, is a joint venture between the Aditya Birla Group and the Sun Life Financial Inc of Canada. 

As per Aditya Birla Sun Life AMC, it has a total domestic assets under management (AUM) of over to Rs 2,38,000 crore for the quarter ended September 30, 2020. PTI SVK MKJ

MKJ


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI

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