Last day for the IPO of Aditya Birla Sun Life AMC; fully subscribed issue on Day 2

Aditya Birla Sun Life AMC’s initial public offering of 2,768 crore yen was written 1.07 times on the second day of issuance. The IPO ends today for the subscription. The issue’s price range was set at 695-712. The market lot is 20 shares.

The part reserved for retail investors received offers 200 percent or 2 times, depending on data available from the stock exchanges. While the portion of qualified institutional investors received bids for 0.06 times, the quota for non-commercial investors or HNIs is subscribed at 40 percent. The portion reserved for Aditya Birla Capital shareholders obtained 0.67%. The IPO is entirely an offer to sell, in which two promoters – Aditya Birla Capital and Sun Life (India) AMC Investments – will sell their stake. Of the 3.88 crore shares offered, Aditya Birla will sell up to 28.51 lakh shares and 3.6 crore Sun Life AMC shares.

Anchor investors

Prior to the problem, AMC on Tuesday raised 789 crore from key investors. It decided to allot 1,10,80,800 shares to anchor investors at 712 yen each, valuing the overall deal at 788.95 yen crore, according to a circular posted on the ESB website.

Key investors include ICICI Prudential Mutual Fund (MF), SBI MF, SBI Life Insurance Co Ltd, Axis MF, UTI MF BNP Paribas Arbitrage, Max Life Insurance Company and HSBC Global Investment Funds.

Paras Defense announcement today

Paras Defense and Space Technologies shares will go public on Friday.

The company pegged the IPO price at 175, at the higher end of the 165-175 price range. The public show had the biggest subscription on record at 304 times.

The portion reserved for retail investors was subscribed 112.81 times and the Non-Institutional Investors category, generally referred to as HNI, 927.70 times. The Qualified Institutional Buyer category was subscribed 169.95 times. Overall, the issue was traded 304.26 times making it the most widely traded IPO in history, followed by Salasar Technologies with 273.05 times, Apollo Micro Systems had 248.5 subscriptions .

The IPO included a new issue of up to 140.60 crore and an offer to sell up to 17.24 lakh shares by promoters and individual stakeholders.

The company will use the funds for capital expenditures, working capital, repayment or prepayment of certain borrowings and outstanding loans


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