Should you subscribe to AB Sun
Life AMC IPO? Here's what
Should you subscribe to AB Sun Life AMC IPO? Here's what analysts say on Business Standard. Analysts
recommend subscribing to the issue given the company's reasonable valuations, strong return on equity,
diverse product portfolio and well recognised promoter group.
Market News The initial public offer (IPO) by Aditya Birla Sun Life
AMC (ABAMC), among the fourth-largest asset management
companies (AMC) in India, will open for subscription on Wednesday,
The company, which is a joint venture between Aditya Birla Capital and
Sun Life AMC, looks to raise Rs 2,768.3 crore through an offer for sale
by its two promoters. Hence, the company will not receive any proceeds
from the share sale.
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The IPO is priced at Rs 695-712 per share and investors can bid for a
minimum lot of 20 shares and in multiples thereof.
The company has a strong geographical presence and distribution
network, comprising 194 branches in over 280 locations with over
66,000 distributors...Read more.
News Source : BS / Business Standard