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Aditya Birla Sun Life AMC Stock to Enter BSE, NSE Today: Time, Listing Share Price, Others

Most of the analysts expect that Aditya Birla Sun Life AMC IPO will start first trade with 5-10 per cent listing gain

Aditya Birla Sun Life AMC will get listed at National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) at 10 am on October 11

  • Last Updated:October 11, 2021, 08:27 IST
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Aditya Birla Sun Life AMC is all set to enter the stock market on Monday. The largest non-bank affiliated AMC in India by quarterly average assets under management will get listed at National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) at 10 am on October 11. The initial public offer (IPO) of Aditya Birla Sun Life AMC received a muted response from investors when it had open for open subscription. Aditya Birla Sun Life AMC IPO received bids of nearly 14.60 crore shares against the total issue size of nearly 2.78 crore shares, according to National Stock Exchange (NSE) data. The price band for Aditya Birla Sun Life AMC was fixed at Rs 695-712 per share.

The low grey market premium and lower-than-expected response subscription, complete offer for sale issue could indicate marginal listing gain for Aditya Birla Sun Life AMC IPO. Most of the analysts expect that Aditya Birla Sun Life AMC IPO will start first trade with 5-10 per cent listing gain and it could go up to 10-15 per cent at the best.

Aditya Birla Sun Life AMC IPO is entirely an offer for sale (OFS), wherein two promoters — Aditya Birla Capital and Sun Life (India) AMC Investments — will divest their stake in the asset management firm. Aditya Birla Sun Life AMC IPO was subscribed 5.25 times during September 29-October 1, largely supported by qualified institutional buyers. The portion allocated for the qualified institutional buyers (QIBs) was subscribed 10.36 times. The share set aside for non institutional investors was booked 4.39 times while those of retail individual investors (RIIs) was subscribed 3.24 times.

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