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Home / Markets / Ipo /  Aditya Birla Capital board gives nod to explore IPO of mutual fund venture

The Board of Directors of Aditya Birla Capital Limited at its Meeting held on Wednesday provided its in-principle approval to explore an initial public offering of Aditya Birla Sun Life AMC Limited.

"This is to inform you that the Board of Directors ("the Board") of Aditya Birla Capital Limited ("the Company") at its Meeting held today i.e. 17 March 2021, has provided its in principle approval to explore an initial public offering of Aditya Birla Sun Life AMC Limited ("IPO"), a material subsidiary of the Company subject to market conditions, receipt of applicable approvals and other considerations," the company said in a regulatory filing.

Last monthAditya Birla Capital Friday posted a 15 per cent jump in consolidated net profit to 289 crore for the quarter ended December 2020, the highest ever consolidated quarterly profit.

Company's net profit was at 250 crore in the same quarter of the previous fiscal.

Consolidated revenue for Q3FY21 grew 16 per cent to 5,346 crore as against 4,612 crore in the December quarter of FY20, the company said.

The robust quarterly performance was driven by strong growth across businesses, it said.

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