Aditya Birla AMC IPO: GMP, price, other details that you should know2 min read . Updated: 28 Sep 2021, 09:11 AM IST
- Aditya Birla AMC IPO is entirely an offer for sale, wherein its two promoters will divest their stake in the asset management firm
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Aditya Birla AMC IPO (initial public offering) will open for subscription on Wednesday, September 29 2021 and the three-day issue will conclude on October 1st 2021. The promoters of the company plan to raise ₹2,768.26 crore from this public issue through OFS (Offer for Sale).
The initial share-sale's price band has been fixed at ₹695-712. According to market observers, Aditya Birla AMC IPO GMP (grey market premium) today is ₹30.
Here we list out important details in regard to Aditya Birla AMC IPO:
- Aditya Birla AMC IPO GMP: As mentioned above ABSL AMC shares are trading at a premium of ₹30 in the grey market today. According to market observers, Aditya Birla AMC IPO GMP today is ₹18 down from its yesterdays evening's grey market premium of ₹48. They said that in one week, Aditya Birla AMC grey market premium rose from ₹30 to ₹70 but just ahead of its subscription opening, it has come down to ₹30. They went on to add that much will depend upon the kind of response it gets from the investors when it opens for bidding on tomorrow.
- Aditya Birla AMC IPO price band: The asset management company has fixed the issue price at ₹695 to ₹712 per equity share.
- Aditya Birla AMC IPO size: The promoters of the company aim to raise ₹2,768.26 crore from this public issue through OFS (Offer for Sale).
- Aditya Birla AMC IPO subscription date: The public issue will open for subscription on 29th September and it will remain open for bidding till 1st October 2021.
- Aditya Birla AMC IPO lot size: A bidder will be able to apply for the public issue in lots and one lot will comprise 20 shares of Aditya Birla AMC. A bidder can apply for minimum one lot and maximum 14 lots.
- Investment limit in Aditya Birla AMC IPO: As a bidder can apply for minimum one lot and maximum 14 lots, an investor can invest minimum ₹14,240 ( ₹712 x 20) and maximum ₹1,99,360 ( ₹712 x 20 x 14).
- Issue type: Aditya Birla AMC IPO is a book build issue with face value of ₹5 per equity share.
- Aditya Birla AMC IPO subscribe or not: Advising investors to subscribe Aditya Birla AMC IPO; Saurabh Joshi, Research Analyst at Marwadi Shares and Finance Limited said, "Considering the TTM adjusted EPS of ₹20.27 on the post-issue basis, the company is going to list at a P/E of 35.13 with a market cap of ₹2,05,056 mn while its peers namely HDFC AMC and Nippon Life are trading at a P/E of 49.99 and 38.61 respectively. We assign the subscribe rating to this IPO as the company is the largest non-bank affiliated asset manager in India with diverse product portfolio and geographically diversified pan-India distribution presence. Also, the company is available at a reasonable valuation as compared to its peers."
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