Aditya Birla AMC IPO subscribed 56%

Aditya Birla Sun Life AMC IPO was subscribed 56 per cent on Wednesday, the first day of the issue. A day earlier, the asset manager had allotted ~789 crore worth of shares to anchor investors at ~712 apiece. The price band for the IPO is ~695- ~712 per share. At the upper band, the issue size would be ~2,768 crore and valuation works out to ~20,500 crore.