DRHP filed by Aditya Birla Sun Life AMC with SEBI for IPO

Aditya Birla Sun Life AMC (ABSLAMC), a subsidiary of Aditya Birla Capital (ABCL), announced the filing of a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).

The IPO of the shares of Aditya Birla Sun Life AMC is subject to receipt of required approvals. Aditya Birla Sun Life AMC is the investment manager of Aditya Birla Sun Life Mutual Fund.

Aditya Birla Capital has approved the sale of up to 28,50,880 equity shares of face value of INR5 each held in Aditya Birla Sun Life AMC. The latter has a total paid-up share capital of 28,80,00,000 equity shares.

DRHP filed by Aditya Birla Sun Life AMC with SEBI for IPO. Photo courtesy of Gerd Altmann from Pixabay.

Sun Life (India) AMC Investments, the joint venture shareholder in the investment manager, has sanctioned the sale of up to 3,60,29,120 equity shares of face value of INR5 each held in Aditya Birla Sun Life AMC via the IPO.

The proposed sale of equity shares by Aditya Birla Capital and Sun Life India in the IPO will together come to 13.5% of the paid-up share capital of Aditya Birla Sun Life AMC.