The window for subscribing Aditya Birla Sun Life AMC IPO (initial public offering) closed yesterday and ₹2,768.26 crores worth public issue got subscribed 5.25 times of its offer. The public offer got subscribed 3.24 times in retail category, 10.36 times in QIB category whereas it got subscribed 4.39 times in NII category. The initial public offer (IPO) of Aditya Birla AMC was fully subscribed on the second day as well of bidding on Thursday. On Thursday, which was the second day of bidding saw applications for 2,99,41,640 shares against the issue size of 2,77,99,200 shares. This implied subscription of 1.08 times.
Here is a recap of what you need to know about the Sansera Engineering IPO before the listing takes place:
Aditya Birla AMC IPO Overview
The company and its promoters plan to raise Rs 2,768 crore from the market. The initial share-sale is entirely an offer for sale, wherein two promoters — Aditya Birla Capital and Sun Life (India) AMC Investment. The price band of the public offering had been fixed at Rs 695-712 a share for its over Rs 2,768-crore initial share-sale. The IPO of up to 3.88 crore equity shares comprises 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. Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
Aditya Birla IPO Grey Market Premium
The GMP of Aditya Birla Sun Life share IPO was trading at Rs 20 on October 1, this means that the shares of the company were trading at premium to its issue price price which is Rs 695-712. That makes its listing gain somewhere between 102.03 per cent.
Aditya Birla AMC IPO Allotment, Listing Date
The IPO was opened for subscription on September 29 and the subscription was ended October 1. The basis of allotment will take place on October 6, 2021. The refund will happen on October 7,2021. The credit to Demat account will take place will happen on October 8, 2021. The company will get listed on October 11.
Aditya Birla IPO Subscription Status (Club Lot Size and Subscription)
Bidding for Aditya Birla Sun Life AMC IPO (initial public offering) closed yesterday and ₹2,768.26 crore worth public issue got subscribed 5.25 times of its offer. The public offer got subscribed 3.24 times in retail category, 10.36 times in QIB category whereas it got subscribed 4.39 times in NII category. According to market observers, 100 per cent OFS (Offer for Sale) probably didn’t go down well with the bidders that got reflected in ‘subdued’ subscription of the public issue though financials of the company are quite promising.
Company Outlook
“Company is bringing the issue at price band of Rs 695-712 per share at p/e multiple of 39x on FY21 PAT basis. Company being largest non-bank affiliated asset manager in India and among the four largest AMCs in India by QAAUM since September 30, 2011 has well-recognized brand with experienced Promoters. Also, company’s growing individual investor customer base is driven by strong systematic flows and B-30 penetration. Aditya Birla AMC IPO company has Pan-India, diversified distribution network with long-term track record of innovation in and use of technology; and franchise led by experienced and stable management and investment teams. Hence, looking after all, we recommend “Subscribe” on issue,” Hem Securities said in a note.
At present, it manages 118 schemes. The company managed 135 schemes comprising 35 equities, 93 debts, 2 liquid schemes, 5 ETFs, and 6 domestics FoFs as of December 31, 2020. The company’s Monthly average assets under management (MAAUM) from institutional investors was Rs 1,412.43 billion as of December 31, 2020, which was the fourth-largest among its peers, according to CRISIL. Since its inception in 1994, the fund house has established a geographically diversified Pan-India distribution presence covering 284 locations spread over 27 states and six union territories.
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