Aditya Birla Sun Life AMC shares listed near the issue price of Rs 712.
Aditya Birla Sun Life AMC made a sanguine debut on Monday with its shares listing at a 0.4 percent premium. On NSE, the Aditya Birla Sun Life AMC stock started trading at Rs 715 as against its issue price of Rs 712 - a 0.4 percent premium. On BSE, ABSLAMC shares opened at Rs 712 - neither premium nor discount over the issue price.
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Aditya Birla Sun Life AMC's initial public offer (IPO) worth Rs 2,768 crore was subscribed 5.4 times on the final day of the bidding process. The public issue - entirely an offer for sale - opened for subscription on September 29 and closed on October 1.
The issue received bids for about 14.6 crore shares as against the total 2.8 crore shares on offer, marking a subscription of 5.2 times. The qualified institutional buyers (QIBs) category was subscribed 10.4 times, and the portion reserved for non-institutional investors saw 4.4 times subscription. The retail individual investors' category was subscribed 3.2 times.
Aditya Birla Sun Life AMC - the investment manager of Aditya Birla Sun Life Mutual Fund - is a joint venture between Aditya Birla Group and Canada's Sun Life Financial. ABSLAMC Its listed peers are Nippon Life India Asset Management, HDFC AMC and UTI AMC.
First Published: IST