Aditya Birla AMC IPO fully subscribed on strong retail interest

The retail portion has already been subscribed 2x, HNI by 40%, and institutional investor portion by 6%

Aditya Birla Sun Life AMC’s Rs 2,768-crore IPO has garnered full subscription a day before its close.

The retail portion of the issue has already been subscribed two times, high-networth individual portion was subscribed 40 per cent, institutional investor portion of the IPO was subscribed 6 per cent.

The IPO has seen close to a million applications so far, bankers said. Aditya Birla MF has allotted shares worth Rs 789 crore worth to anchor investors. The price band for the IPO is Rs 695 to Rs 712 per share.

At the upper band, the company is being valued at Rs 20,500 crore. In the IPO, Aditya Birla Capital is selling 2.85 million shares, while Canadian firm Sun Life is divesting 36 million shares.