Aditya Birla Sun Life AMC information papers with Sebi for IPO

Aditya Birla Capital on Tuesday stated its arm Aditya Birla Sun Life AMC has filed a draft purple herring prospectus (DRHP) with capital markets regulator Sebi to launch its preliminary public providing (IPO).
“Aditya Birla Sun Life AMC Ltd (ABSLAMC), a material subsidiary of Aditya Birla Capital, filed a draft red herring prospectus (DRHP) dated 19th April 2021 with the Securities and Exchange Board of India for an initial public offering by way of an offer for sale (IPO) of shares of ABSLAMC, subject to relevant approvals as required,” Aditya Birla Capital stated in a regulatory submitting.
Aditya Birla Capital has authorised sale of as much as 28,50,880 fairness shares of face worth of Rs 5 every held in ABSLAMC out of the full paid-up share capital of 28,80,00,000 fairness shares of Aditya Birla Sun Life AMC, the corporate added.

As per the submitting, Sun Life (India) AMC Investments Inc, the three way partnership shareholder in Aditya Birla Sun Life AMC, authorised sale of as much as 3,60,29,120 fairness shares of face worth of Rs 5 every held in Aditya Birla Sun Life AMC via the IPO.
The proposed sale of fairness shares by Aditya Birla Capital and Sun Life India within the IPO will collectively represent as much as 13.50 per cent of the paid-up share capital of Aditya Birla Sun Life AMC, Aditya Birla Capital stated.

Aditya Birla Sun Life AMC Ltd, the funding supervisor of Aditya Birla Sun Life Mutual Fund, is a three way partnership between the Aditya Birla Group and the Sun Life Financial Inc of Canada.
As per Aditya Birla Sun Life AMC, it has a complete home property underneath administration (AUM) of over to Rs 2,38,000 crore for the quarter ended September 30, 2020.