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Aditya Birla Capital and Sun Life AMC-promoted company Aditya Birla Sun Life AMC is expected to finalise the IPO share allotment in the current week after successfully closing the public issue on October 1.
The maiden public offer garnered good response from investors despite weakness in the secondary market that corrected two odd percent in the previous week. The issue, which had opened on September 29, was subscribed 5.25 times as it received bids for more than 14.59 crore equity shares against IPO size of 2.77 crore equity shares, generating bids worth Rs 10,395 crore at upper price band Rs 712 per share.
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Aditya Birla Sun Life AMC mopped up Rs 2,768 crore through its initial public offering that comprised an offer for sale by promoters Aditya Birla Capital and Sun Life AMC. Hence, the entire issue proceeds, excluding issue expenses, will go to these selling shareholders.
With the closing of public issue, now investors are eager to know about their share allotment status that can be checked online either on the website of BSE or IPO registrar. The allotment will be finalised on October 6.
On the BSE website, one can check the allotment status by following these steps:
a) Select issue type "equity"
b) Select issue name "Aditya Birla Sun Life AMC Limited"
c) Enter "Application Number" and "PAN Number"
d) Check the "I'm not a robot" box, and click on "search"
Alternatively, the allotment can also be checked on the IPO registrar's website:
a) Select IPO in dropdown "Aditya Birla Sun Life AMC Limited"
b) Select either
i) Application Number - enter Application Type (NON-ASBA / ASBA) and Application number, OR
ii) DPID / Client ID - select Depository (NSDL / CDSL), enter DPID and Client ID, OR
iii) Select PAN - enter PAN
c) Enter Captcha (mentioned above) and click on Submit button.
Once the completion of basis of allotment process, the refunds will be credited to the bank accounts of ineligible investors by October 7 and successful investors will get shares in their demat accounts by October 8.
And finally Aditya Birla Sun Life AMC will make a debut on the bourses on October 11.
Its shares are available at Rs 732 in the grey market, which is a premium of Rs 20 or 2.8 percent over the expected final issue price of Rs 712 per share, the IPO Watch and IPO Central data showed. The grey market premium, which has been declining for past few days, was at Rs 45 on September 28.
Aditya Birla Sun Life AMC, among the four largest AMCs in India by QAAUM, managed total AUM of Rs 2,93,642 crore under its suite of mutual fund (excluding its domestic fund-of-funds), portfolio management services, offshore and real estate offerings, as of June 2021.
Its total QAAUM grew at a CAGR of 14.55 percent from Rs 1,36,503 crore as of March 2016 to Rs 2,69,278 crore as of March 2021, and further to Rs 2,75,454 crore as of June 2021. It was the fifth largest player in terms of market share in individual AUM among the top 10 AMCs as of June 2021.