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Aditya Birla Sun Life AMC makes tepid debut, shares list at Rs 715

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Aditya Birla Sun Life AMC shares listed near the issue price of Rs 712.

Aditya Birla Sun Life AMC makes tepid debut, shares list at Rs 715
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.
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