ABSLAMC IPO: Aditya Birla Sun Life AMC (ABSLAMC) has submitted documents with market regulator SEBI (SEBI) for the IPO. It is a subsidiary of Aditya Birla Capital. The company has deposited DRHP with SEBI. ABSLAMC is the joint venture of Aditya Birla Capital Ltd and Canadian Sun Life (India) AMC Investment Inc. Recently, the company’s board had approved the IPO.
How many shares will be issued
Aditya Birla Capital Limited (ABCL) has approved the sale of 28,50,880 equity shares at a face value of Rs 5. The company has given this information by issuing a release. At the same time, Sun Life AMC will issue 3,60,29,120 shares for this public issue at a face value of Rs 5. In the stock exchange filing, both companies said that they will reduce their total 13.5 per cent stake in the company through this IPO.
Whose share
Aditya Birla Capital holds a 51 per cent stake in Aditya Birla Sun Life AMC and Sun Line holds a 49 per cent stake in it. According to reports, Aditya Birla Sun Life AMC wants to raise funds for its expansion. For this reason, the company can bring an IPO to raise Rs 5000 crore.
Total AMU
Till September quarter of 2020, the total assets under management of Aditya Birla Sun Life AMC was 2.38 lakh crore rupees. That is, the investors had deposited 2.38 lakh crore rupees with the company. Right now HDFC AMC, UTI AMC, Nippon Life India AMC are listed in Indian Stock Market.
Why do companies bring IPO
Actually companies need money to expand their business. In such a situation, companies raise capital through IPOs and use the capital raised to grow the business. This is why companies keep on bringing IPOs at the right time. Talking about the present time, many companies have issued IPOs one after the other due to increasing global liquidity. In the March quarter of 2021, FII invested Rs 53,000 crore in the Indian stock market.
How can you invest
You can invest directly at your level in an IPO, for which you have to have a demat account. It can also be invested through a broker. Every brokerage house maintains a separate section on its website for investing in IPOs, where you can apply for an IPO after filling some information.
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