New IPO: Aditya Birla Sun Life AMC's IPO opens, know how much the issue has been subscribed so far

Aditya Birla Sun Life AMC IPO News: The IPO of Aditya Birla Sun Life AMC was open for subscription on 29 September. October 1 is the last day to invest in this IPO. In ABSA's IPO, the company's promoters are raising Rs 2768.26 crore through an offer for (OFS) sale.

Aditya Birla Sun Life AMC is the Investment Manager of Aditya Birla Sun Life Mutual Fund. It is a joint venture between Aditya Birla Group and Sun Life Financial Inc of Canada.

buy at least 20 shares
The issue size of Aditya Birla Sun Life AMC IPO is Rs 2,768.26 crore. The market lot and minimum order quantity in the IPO is 20 shares. Aditya Birla Sun Life AMC IPO share allotment is likely to happen on 6th October. The IPO is likely to be listed on BSE and NSE.

Invest by 1st October
An investor can bid for a minimum of one lot i.e. 20 shares and a maximum of 280 shares. Refunds will be started on 7th October. The shares will be credited to the Demat account on October 8. The subscription window for Aditya Birla AMC IPO will be open from September 29 to October 1.
56 percent subscribers on the first day itself
The initial public offering (IPO) of Aditya Birla Sun Life AMC received a 56 percent subscription on the first day of the issue on Wednesday. As per the data available on the National Stock Exchange, bids were received for a total of 1,54,80,400 shares on offer for 2,77,99,200 shares.
What do experts say?
Experts say that this company is one of the 4 mutual fund companies in the country in terms of QAAUM (Quarterly Average Asset Under Management). As of June 30, 2021, it had managed assets of Rs 2936.42 billion. He said that the growth of the AUM industry has increased due to the increasing financial awareness among investors. The company's focus so far has been on debt funds, which have lower margins than equity schemes. The company is increasing its focus on high-margin products. The opportunity is less for short-term investors but it can be invested in long-term terms.

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