Aditya Birla's IPO got a good response, so much was the price of one share

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ADITYA BIRLA

The initial public offering (IPO) of Aditya Birla Sun Life AMC Ltd was subscribed 5.25 times on the last day on Friday. The IPO opened on 29 September. The category of Qualified Institutional Buyers (QIBs) got subscribed 10.36 times.

The initial public offering (IPO) of Aditya Birla Sun Life AMC Ltd was subscribed 5.25 times on the last day on Friday. The IPO opened on 29 September. According to information received from the stock market, in the initial share sale of Rs 2,768.25 crore, bids were received for 14,59,97,120 shares, while 2,77,99,200 shares were offered.

3.24x subscription for retail investors

The category of Qualified Institutional Buyers (QIBs) got subscribed 10.36 times. The subscription was 4.39 times for the Non-Institutional Investors category and 3.24 times for the Retail Investors (RII) category.

Price Range for 38,880,000 Equity Shares Rs 695-712

The price range for the 38,880,000 equity shares under the IPO was kept at Rs 695-712 per share. Aditya Birla Sun Life AMC on Tuesday said it has raised Rs 789 crore from anchor investors. Aditya Birla Sun Life AMC Limited, the investment manager of Aditya Birla Sun Life Mutual Fund, is a joint venture of the Aditya Birla Group and Sun Life Financial Inc. of Canada.

Oyo will also bring IPO

Meanwhile, hospitality major OYO has applied to capital markets regulator SEBI to raise Rs 8,430 crore through an initial public offering (IPO). According to the draft red herring prospectus filed before the Securities and Exchange Board of India (Sebi), the IPO will see a fresh issue of equity shares of up to Rs 7,000 crore, including an offer for sale of Rs 1,430 crore.

The loan will be settled with the amount

After approval from the Securities and Exchange Board of India, the proceeds from the issue will be used for repayment, including Rs 2,441 crore of debt taken by Oyo's subsidiaries. Apart from this, the money raised from the IPO will be used for business expansion and general corporate purposes.