Aditya Birla Sun Life AMC files for IPO; IPO to launch on September 29

The price band is fixed at Rs695 to Rs712 per equity share of Aditya Birla Sun Life AMC Limited.

Sep 24, 2021 02:09 IST India Infoline News Service

Initial Public Offer, IPO
Aditya Birla Sun Life AMC Limited is planning to open its Initial Public Offering (the Offer) on September 29, 2021. The Price Band of the Offer has been fixed at Rs695 to Rs712 per Equity Share.

The Bid Lot is 20 Equity Shares and in multiples of 20 Equity Shares thereafter.

The Offer consists of up to 38,880,000 equity shares of face value of Rs5 each (“Equity Shares”) of Aditya Birla Sun Life AMC Limited through an offer for sale. The offer for sale comprises of up to 2,850,880 equity shares by Aditya Birla Capital Limited (“ABCL”) and up to 36,029,120 equity shares by Sun Life (India) AMC Investments Inc. (“Sun Life AMC” together with ABCL, the “Selling Shareholders”).

The Offer includes a reservation of up to 1,944,000 equity shares, for subscription by ABCL Shareholders (as defined hereinafter). The Offer less the ABCL shareholders reservation portion is hereinafter referred to as the “Net Offer”, aggregating up to 36,936,000 equity shares. The offer and the net offer shall constitute 13.50% and 12.83% of the post-offer paid-up equity share capital of the company, respectively.

Further, not less than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders (“RIBs”) in accordance with SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All potential Bidders, other than Anchor Investors, are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective bank account (including UPI ID (defined hereinafter) in case of RIBs) which will be blocked by the SCSBs, to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process. For details, see “Offer Procedure” beginning on page 326.

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.

Kotak Mahindra Capital Company Limited, BofA Securities India Limited and Citigroup Global Markets India Private Limited are the Global Co-orditators and Book Running Lead Managers to the offer. Axis Capital Limited, HDFC Bank Limited, ICICI Securities Limited#, IIFL Securities Limited, JM Financial Limited, Motilal Oswal Investment Advisors Limited, SBI Capital Markets Limited and YES Securities (India) Limited are the book running lead managers to the Offer.

The Equity Shares are proposed to be listed on BSE and NSE.

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