Aditya Birla Sun Life AMC files papers with Sebi for IPO

Aditya Birla Capital on Tuesday stated its arm Aditya Birla Solar Life AMC has filed a draft pink herring prospectus (DRHP) with capital markets regulator Sebi to launch its preliminary public providing (IPO).

“Aditya Birla Solar Life AMC Ltd (ABSLAMC), a cloth subsidiary of Aditya Birla Capital, filed a draft pink herring prospectus (DRHP) dated nineteenth April 2021 with the Securities and Change Board of India for an preliminary public providing by the use of a suggestion on the market (IPO) of shares of ABSLAMC, topic to related approvals as required,” Aditya Birla Capital stated in a regulatory submitting.

Aditya Birla Capital has authorized sale of as much as 28,50,880 fairness shares of face worth of Rs 5 every held in ABSLAMC out of the overall paid-up share capital of 28,80,00,000 fairness shares of Aditya Birla Solar Life AMC, the corporate added.

As per the submitting, Solar Life (India) AMC Investments Inc, the three way partnership shareholder in Aditya Birla Solar Life AMC, authorized sale of as much as 3,60,29,120 fairness shares of face worth of Rs 5 every held in Aditya Birla Solar Life AMC by the IPO.

The proposed sale of fairness shares by Aditya Birla Capital and Solar Life India within the IPO will collectively represent as much as 13.50 per cent of the paid-up share capital of Aditya Birla Solar Life AMC, Aditya Birla Capital stated.

Aditya Birla Solar Life AMC Ltd, the funding supervisor of Aditya Birla Solar Life Mutual Fund, is a three way partnership between the Aditya Birla Group and the Solar Life Monetary Inc of Canada.

As per Aditya Birla Solar Life AMC, it has a complete home belongings below administration (AUM) of over to Rs 2,38,000 crore for the quarter ended September 30, 2020.

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