Aditya Birla Sun Life AMC files IPO papers with SEBI

Aditya Birla Sun Life AMC Ltd has filed a draft red herring prospectus with SEBI to raise funds through an initial public offering.

Aditya Birla Capital Ltd and Sun Life (India) AMC announced that they will collectively sell a 13.5% stake in their asset management joint venture – Aditya Birla Sun Life AMC Ltd.

Aditya Birla Capital will sell up to 2.88 million shares held by it in the asset management business, while Sun Life (India) AMC will sell up to 36.03 million shares. Aditya Birla Capital holds a 51% stake in the AMC, and the remaining 49% is held by Sun Life.

Kotak Investment Banking, ICICI Securities, Bofa Securities, Axis Capital, Citigroup Global markets India, IIFL Securities, SBI Capital, JM Financial, Motilal Oswal Investment Banking, and Yes Securities are appointed as the book running lead managers to the issue.

For the nine-month ended December 2020, the AMC’s cumulative income was ₹873.63 crore against ₹957.20 crore a year ago. Net profit for the period stood at ₹369.54 crore as compared to ₹395.20 crore last year.

Aditya Birla Sun Life AMC manages 135 mutual fund schemes, many of which have reported excellent performance compared to industry averages, as well as six domestics FoFs. It also offers portfolio management services, offshore funds, and alternative investments.

Its total AUM as of December 2020 stood at ₹2.74 trillion.

This year has not only seen several startups turning unicorns, but also several companies launching their IPOs. If successful, the IPO will bring great opportunities for the AMC.

Shishir Gupta, Founder and CEO, StartupLanes

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