Aditya Birla AMC to launch ~3K-cr offer next week

Aditya Birla Sun Life Asset Management (AMC) plans to launch its initial public offering (IPO) before the end of this month, said people in the know. The issue size would be around ~3,000 crore, they added.

In August, Sebi had cleared the asset manager’s IPO document, which was filed with the regulator in April.

According to its offer document, Canadian firm Sun Life Financial would divest 12.56 per cent holding, while Indian partner Aditya Birla Capital (ABCL) would sell a little less than 1 per cent.

Currently, ABCL holds a 51 per cent stake in the AMC, while Sun Life holds the remaining 49 per cent. Following the offering, total promoter stake in the fund house would fall from 100 per cent at present to 86.5 per cent.

Aditya Birla MF is the country’s largest non-banking affiliated fund house with assets under management (AUM) of more than ~3 trillion as of July 2021.

The fund house posted a profit after tax (PAT) of ~155 crore in the first quarter of the current fiscal, a year-onyear jump of 59 per cent.

Aditya Birla MF’S IPO would be the fourth by a domestic mutual fund (MF). Currently, HDFC AMC, Nippon India AMC, and UTI AMC are the only pure-play listed players in this space.