Aditya Birla Sun Life IPO put on hold by markets regulator Sebi

Markets regulator Sebi has kept proposed initial share-sale of Aditya Birla Sun Life AMC in ‘abeyance’, an update with the watc­hdog showed on Monday.
 
However, the Sebi did not clarify further. The asset management company had filed preliminary papers with Sebi in April to raise funds through through an initial public offer (IPO).
 
Going by the draft papers, the proposed IPO is entirely an offer for sale, wherein two promoters — Aditya Birla Capital and Sun Life (India) AMC Investments — will divest their stake in the asset management firm.