Aditya Birla AMC IPO subscription status details Day 3: Issue subscribed 5.25 times

The initial public offer of Aditya Birla Sun Life Asset Management Company (AMC) has been subscribed by 5.25 times on the final day.

Aditya Birla Sun Life AMC Limited IPO Subscription details on Issue Day 3 at 7:00 PM (Issue closed). 

Aditya Birla Sun Life AMC Limited IPO: QIB: 10.36X, NII: 4.39X, Retail: 3.24X , Shareholders: 1.68X,  Total : 5.25X

Total No. of Applications Approx – 15.66 lakh

The three-day IPO of Aditya Birla AMC was launched between September 29 to October 1, 2021. The offer 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 issue has so far received bids for 14,54,04,920 equity shares as compared to 2,77,99,200 equity shares offered, as per the BSE. The issue size had been reduced to 2.77 crore shares from 3.88 crore shares earlier, post raising Rs 789 crore from anchor investors on Tuesday.  

The quota kept aside qualified institutional investors was subscribed 10.36 times, followed by the non-institutional investors 4.39 times and retail investors category 3.22 times, as per the BSE. While the portion kept reserved for Shareholders was subscribed by 1.52 times on the final day.

Zee Business Managing Editor and the Market Guru Anil Singhvi in Aditya Birla AMC IPO preview has recommended that long-term investors can 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.