Aditya Birla Sun Life AMC IPO, Buy IPO,expert says and proposal.
Aditya Birla sun life AMC IPO.
Fund house Aditya Birla Sun Life AMC has come up with a golden opportunity
for almost everyone, which will run from today till October 1. In
which you can also buy IPO shares of this company. The price band for
the three-day initial share sale has been fixed at ₹695-712 per share.
BSE data shows that within the first hour of bidding on the first day, the
IPO has been subscribed 0.17 times and the retail portion booked 0.35 times.
As per market observers, the shares of Aditya Birla AMC are available
today at a premium of Rs 27 (GMP) in the gray market. Gray Market is
an unofficial platform, in which trading starts after the announcement of
the IPO price band till the listing of the IPO shares.
What is Aditya Birla AMC Proposal ?
Aditya Birla AMC's initial public offering (IPO) is an offer for
outright sale, in which two promoters, Aditya Birla Capital and Sun Life
(India) AMC Investments, will sell their stake in the asset management
firm. The IPO of 3.88 crore equity shares includes an offer for sale
of 28.51 lakh equity shares by Aditya Birla Capital and 3.6 crore equity
shares by Sun Life AMC.
Remember this thing during the investing in Aditya Birla Sun Life AMC.
The three-day Initial Public Offer (IPO) of Aditya Birla Sun Life AMC has
opened for subscription from 9 PM today. The company had announced
last week in a virtual press conference that the IPO would be open for three
days i.e. till October 1. The company has fixed a price band of Rs
695-712 per share for an initial share sale of over Rs 2,768 crore.
Aditya Birla Sun Life AMC said on the previous day that it has
deposited Rs 789 crore from anchor investors ahead of its initial share
sale. It is an offer for sale, in which two promoters—Aditya Birla
Capital and Sun Life (India) AMC Investments—will sell their stake in the
asset management firm.
what experts say Aditya Birla Sun Life AMC ?
Shares of Aditya Birla Sun Life MC are trading at a price of
757-772 in the gray market. They are trading at a premium of 6.3 to
8.4 percent over the issue price of the IPO. However, market experts
say that its GMP completely depends on how its issue is subscribed.
According to experts, this is 100% offer for sale, due to which the
subscription may be affected.
How to buy IPO?
1. First of all it is necessary to open a Demat account with enough
money. No investor can apply for IPO without a Demat account..
2. After creating a Demat and Trading account, he/she should be familiar
with the Application Supported by Blocked Account (ASBA) facility. It
is mandatory for every IPO applicant.
3. An investor needs to bid while applying for shares in an IPO.
This is done as per the lot size quoted in the prospectus of the company.
4. A price range is fixed and investors are required to bid within the
price range. Though an investor can amend his bid during the IPO, it
should be noted that he needs to block the required funds while placing the
bid.
5. If an investor is lucky enough to get the full allotment, he/she
will receive a Confirmatory Allotment Note (CAN) or Confirmatory Allotment
Note within 6 working days of the completion of the IPO process. After
the shares are allotted, they are credited to the demat account of the
investor.
6. After doing all this, the investor will have to wait for the listing of
the shares in the stock market. This is generally done within seven
days of finalizing the shares.