Mumbai: Initial share sale of Aditya Birla Sun Life AMC Ltd. was subscribed around 108% on the second day of the offering closing on 1 October.
Excluding anchor allocation, the overall book was subscribed 1.08 times. As of 5 pm, high net worth individuals in the non-institutional category attracted 40% of the shares reserved for the category. The institutional category was subscribed just 0.06 times.
Retail individual investors whose investment ceiling cannot be exceeded ₹2 lakh in an IPO, applied for two times the shares on offer, stock exchange data showed.
The IPO, which is a pure offer for sale by joint venture partners Aditya Birla Capital Limited and Sun Life (India) AMC Investments Inc., will be priced at Rs. ₹695-712 per share. Collectively, the two shareholders are selling a total of 38.88 million shares.
The offer for sale includes sale of 2.85 million shares by Aditya Birla Capital and 36.02 million shares by Sun Life.
The share sale would result in dilution of equity of 13.5 percent for existing shareholders.
As on June 30, the mutual fund company managed 118 schemes including 37 equity schemes (including diversified, tax-saving, hybrid and sector schemes), 68 debt schemes (including ultra short-duration, short-duration and fixed-maturity schemes) . Two liquid schemes, five Exchange Traded Funds (ETFs) and six domestic FOFs (Funds of Funds).
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