27.1 C
Bhubaneswar
Monday, June 21, 2021
Home News Aditya Birla Capital plans IPO for its common asset business

Aditya Birla Capital plans IPO for its common asset business

New Delhi: Aditya Birla Capital plans IPO, Aditya Birla Capital, the holding organization of the multitude of monetary administrations of the Aditya Birla Group, is arranging a Dalal Street debut. The organization is meeting with brokers to design the IPO of its shared asset business – Aditya Birla Sun Life Asset Management Company.

Reports say that the organization is probably going to record IPO archives with market controller SEBI in April itself.

Eminently, the Board of Directors of Aditya Birla Capital in March gave on a fundamental level endorsement to investigate a first sale of stock of the AMC.

“The directorate of Aditya Birla Capital has given its on a fundamental level endorsement to investigate a first sale of stock of Aditya Birla Sun Life AMC, a material auxiliary of the organization subject to economic situations, receipt of pertinent endorsements and different contemplations,” Aditya Birla Capital had said in an administrative recording a month ago.

Aditya Birla Sun Life AMC is a joint endeavour between the Aditya Birla Group and Sun Life Financial. It is India’s fourth-biggest AMC. While Aditya Birla Capital holds 51% in Aditya Birla Sun Life AMC, the leftover 49% is held by Sun Life, a Canadian monetary administrations organization.

According to Aditya Birla Sun Life AMC, it has absolute homegrown resources under administration (AUM) of over to Rs 2,38,000 crore for the quarter finished September 30, 2020.

In the meantime, reports say that the organization may likewise record IPO archives of its protection arm – Aditya Birla Sun Life Insurance.

Latest News