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    Aditya Birla Sun Life AMC gets SEBI approval for IPO

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    Aditya Birla Sun Life AMC gets SEBI approval for IPO

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    CNBC-TV18 has learnt from sources that Aditya Birla Capital's AMC arm has finally got approval from the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). It is going to be a big moment for the Aditya Birla Group as the Draft Red Herring Prospectus (DHRP), which was filed by the company in April has finally got the nod from the market regulator.

    CNBC-TV18 has learnt from sources that Aditya Birla Capital's AMC arm has finally got approval from the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). It is going to be a big moment for the Aditya Birla Group as the Draft Red Herring Prospectus (DHRP), which was filed by the company in April has finally got the nod from the market regulator.
    The IPO launch could be expected in the September-October period this year. The company is eyeing a valuation of around Rs 22,000-24,000 crore for its AMC listing. So, the issue size could be around Rs 2,500 crore.
    This is expected to be a secondary sale fully so through an offer-for-sale (OFS), 13.5 percent stake will be sold in this IPO, where the Canadian JV partner Sun Life is going to sell about 12.5 percent of its stake out the 49 percent stake currently held by the company, while Aditya Birla Capital will be selling 1 percent stake out of the 51 percent stake that it currently owns.
    CNBC-TV18’s Nisha Poddar has exclusive details.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
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