Aditya Birla AMC IPO: Investors Unhappy As Stock Opens Flat On BSE, NSE
Aditya Birla AMC IPO: Investors investing money in Aditya Birla's IPO are unhappy with a muted listing of the company. The company's shares had a tepid listing in the market today.
Aditya Birla AMC IPO: Aditya Birla's Sun Life AMC IPO made its stock market debut today. The company's shares are listed at Rs 715 per share on NSE amid market volatility. On Bombay Stock Exchange (BSE), Aditya Birla Sun Life AMC share got listed flat at Rs 712. The company's shares were sold after the listing. Even after the listing in the stock market, shares of the company fell 0.88 percent. On the other hand, the stock touched a high of Rs 721.
Subscription Opened September 29
The Aditya Birla Sun Life AMC opened for subscription on September 29 and closed on October 1. The company's IPO had received 5.25 times a subscription.
In addition, the qualified institutional buyers (QIBs) category was subscribed 10.36 times. On the other hand, the share set for non-institutional investors was booked 4.39 times. Retail individual investors were subscribed 3.24 times.
- The company's stock was listed at Rs 715 on NSE and flat at Rs 712 on BSE.
- According to the IPO, investors have gained only Rs 3 per share.
- The price band for Aditya Birla Sun Life AMC IPO was fixed at Rs 695-712 per share.
- At the time of listing, its market capitalization stood at Rs 20505.60 crore.
Company's Business: Aditya Birla is the largest non-banking affiliated AMC company in the country. In addition, the company is also in the mutual fund business. Aditya Birla Group and Canadian company Sun Life are working through a financial joint venture.
The company's asset management stood at Rs 2.38 lakh crore for the quarter ended September 2020. HDFC AMC, UTI AMC, Nippon Life India AMC shares are also listed in the stock market.
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