Aditya Birla Sun Life AMC on Friday said it has fixed a price band of Rs 695-712 a share for its over Rs 2,768-crore initial share-sale.
The three-day initial public offering (IPO) will open for subscription on September 29 and conclude on October 1, the company announced in a virtual press conference. The initial share-sale is entirely an offer for sale, wherein two promoters — Aditya Birla Capital and Sun Life (India) AMC Investments — will divest their stake in the asset management firm.
The IPO of up to 3.88 crore equity shares comprises an offer for sale of up to 28.51 lakh equity shares by Aditya Birla Capital and up to 3.6 crore equity shares by Sun Life AMC.