Aditya Birla AMC IPO Subscription Status Day 1: 58 per cent subscribed so far

Aditya Birla AMC IPO – The Initial Public Offering (IPO) of Aditya Birla Sun Life AMC Limited has been overall subscribed 58 per cent on the first day of the issue on Wednesday, as per the BSE data till 5:00 pm.

The three-day public issue which opened today will end on Friday (1 October). The IPO has an issue size of Rs 2,768.26 crore, with a price band of Rs 695-712 per share.

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The Retail Individual Investors (RIIs) oversubscribed this issue 1.09 times on the first day. Out of the 1,29,27,600 shares available for subscription, the number of shared bids received 1,40,96,780.

Meanwhile, share bids received from the non-institutional investors stood at 7,53,720 out of the total 55,40,400 share available for subscription.

The Qualified Institutional Investors (QIBs) were yet to subscribe around this time. The number of shares available for subscription stood at 73,87,200.

Zee Business Managing Editor and the Market Guru Anil Singhvi in Aditya Birla AMC IPO preview has recommended long-term investors to apply, while short-term investors can avoid subscribing as its unlikely to give listing gains. 

The initial share-sale is entirely an offer for sale, wherein two promoters -- Aditya Birla Capital and Sun Life (India) AMC Investments -- will divest their stake in the asset management firm.

ICICI Prudential Mutual Fund (MF), SBI MF, SBI Life Insurance Co Ltd, Axis MF, UTI MF BNP Paribas Arbitrage, Max Life Insurance Company and HSBC Global Investment Funds are among the anchor investors.

Aditya Birla Sun Life AMC, the investment manager of Aditya Birla Sun Life Mutual Fund, is a joint venture between the Aditya Birla Group and the Sun Life Financial Inc of Canada.