Aditya Birla Sun Life AMC initial public offering (IPO) is likely to be finalised on Wednesday. The Rs 2,768-crore public issue received a healthy response from investors when it had opened for subscription from September 29-October 1. Aditya Birla Sun Life AMC IPO received bids of nearly 14.60 crore shares against the total issue size of nearly 2.78 crore shares, according to National Stock Exchange (NSE) data. Aditya Birla Sun Life AMC IPO price band was fixed at Rs 695-712 per share.
The portion allocated for the qualified institutional buyers (QIBs) was subscribed 10.36 times. The share set aside for non institutional investors was booked 4.39 times while those of retail individual investors (RIIs) was subscribed 3.24 times.
How to Check Aditya Birla Sun Life AMC IPO Allotment Status via BSE
1) Go to the official BSE website. Via the URL (https://www.bseindia.com/investors/appli_check.aspx).
2) It will take you to a page called ‘Status of Issue Application’. There you need to select the ‘Equity’ option.
3) Select ‘ADITYA BIRLA SUN LIFE AMC LIMITED’ from the drop-down menu beside the issue name.
4) Input your application number and the Permanent Account Number (PAN). Then you just click ‘I am not a robot’ to verify yourself and click ‘Search’. This will show you the status of the application.
How to Check Aditya Birla Sun Life AMC IPO Share Allotment Status via the Registrar’s Website (KFin Technologies Private Limited)
1) Go to the web portal of KFin Technologies Private Limited -https://ris.kfintech.com/ipostatus/ipos.aspx
2) Select the IPO in dropbox where the name will be populated. This option will open only after the allotment is finalised
3) You have to select either one of the three modes: application number, client ID or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Then you need to enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately and hit submit
Aditya Birla Sun Life AMC IPO is entirely an offer for sale (OFS), wherein two promoters — Aditya Birla Capital and Sun Life (India) AMC Investments — will divest their stake in the asset management firm. The company will not receive any proceeds from the OFS. The objects of the Offer are to (i) achieve the benefits of listing the equity shares on the Stock Exchanges; and (ii) carry out the offer for sale of up to 38,880,000 equity shares by the selling shareholders.
Aditya Birla Sun Life AMC IPO GMP
The unlisted share of Aditya Birla Sun Life AMC IPO was trading at Rs 710 in the grey market. Hence, the grey market premium of Aditya Birla Sun Life AMC IPO was -Rs 2. This negative trend in the grey market indicated that the Aditya Birla Sun Life stock could get listed at a discounted price. However, the GMP is at par with the listing price.
At the upper price band of Rs 712, Aditya Birla Sun Life AMC IPO is available at P/E of 39x (FY21) which appears reasonably priced. Most analysts recommended a ‘Subscribe’ rating for the Aditya Birla Sun Life AMC IPO on a long-term basis considering strong growth prospects in one of the fastest growing economies with a highly under penetrated MF industry.
Aditya Birla AMC is a joint venture between Aditya Birla Capital Ltd (ABCL) and Sun Life AMC. Aditya Birla Capital Ltd is the listed non-operating holding company of the financial services businesses of the Aditya Birla group
and had managed total AUM of Rs 3,43,300 crore with over 2.5 crore active customers as on June 2021. Sun Life Financial Inc, the holding company of Sun Life AMC, is a financial services company providing insurance, wealth and asset management solutions to individual and corporate clients.