Aditya Birla Sun Life AMC makes flat stock market debut; starts trade at IPO price of Rs 712

Aditya Birla Sun Life AMC stock made a flat listing on the stock exchanges on Monday, 11 October, on volatile market momentum. Shares of Aditya Birla Sun Life AMC opened for trading at Rs 712 apiece. The Rs 2,768-crore public issue was sold in a price band of Rs 695-712 per share. On listing, the company had a market capitalization of Rs 20,505.60 crore. The IPO (Initial Public Offering) of Aditya Birla Sun Life AMC, concluded earlier this month, saw 5.25 times subscription. Upon listing, Aditya Birla Sun Life AMC has joined the listed industry peers such as HDFC Asset Management Company, Nippon Life India Asset Management and UTI Asset Management Company.

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Most of the research and brokerage firms had recommended subscribing to the issue during the IPO process. Aditya Birla Sun Life AMC issue was entirely an offer-for-sale of up to 28.51 lakh equity shares by Aditya Birla Capital and up to 3.6 crore equity shares by Sun Life AMC. Analysts at Anand Rathi Share and Stock Brokers said that Aditya Birla Sun Life AMC believes it has achieved this leadership position through its focus on consistent investment performance, extensive distribution network, brand, experienced management team and superior customer service. The company’s focus on improving its equity-oriented scheme mix is a significant factor in enhancing its profitability, as equity-oriented schemes generally generate higher management fees compared to other schemes.

Aditya Birla Sun Life AMC is the largest non-bank affiliated AMC in India. It is well recognized brand with experienced promoters having presence in multiple countries. The company’s growing individual investor customer base is driven by strong systematic flows and B-30 (beyond top 30 cities) penetration. It has a robust fund performance supported by research-driven investment philosophy.  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.