Aditya Birla Sun Life AMC shares were available at a premium of 6.3-8.4 percent within the grey market before its initial public offer which opens for bidding during September 29-October The Aditya Birla Capital and Sun Life AMC-promoted company decide to raise Rs 2,768.25 crore through its public issue, at the upper end of the worth band of Rs 695-712 per share. it’s a suggestion purchasable issue by both promoters.
Its equity shares are trading at Rs 757 and 772 in grey markets, a premium of Rs 45 and Rs 60 or 6.3 percent and eight .4 percent over the upper price band of Rs 712, the IPO Watch and IPO Central data showed Experts feel the rationale for the low grey market premium might be that the difficulty is fairly priced and it’s a pure offer purchasable .
“Aditya Birla Sun Life AMC IPO being a pure one hundred pc offer purchasable offer which is that the only concern and should not be interesting for brand spanking new investor who look just for healthy listing gain,” said Prashanth Tapse, VP Research at Mehta Equities He further said supported financial parameters, the difficulty is fully priced. Hence he advises investors to subscribe the difficulty only with an extended term perspective.
“We believe the corporate is poised for bright prospects ahead with rising investment awareness in India on an extended term growth story,” Tapse said Aditya Birla Sun Life AMC, which is ranked because the largest non-bank affiliated AMC (assets under management) in India and among the four largest AMCs in India by quarterly average assets under management, managed a complete AUM of Rs 2,93,642 crore through its 118 schemes as of June 2021.
On the financials, the profit of the corporate had grown consistently to Rs 526.28 crore in FY21 from Rs 446.8 crore in FY19, but revenue was falling to Rs 1,191 crore in FY21 against Rs 1,233.8 crore in FY20 and Rs 1,406 crore in FY19.