Aditya Birla Sun Life Asset Management Company (ABSLAMC), a material subsidiary of Aditya Birla Capital, has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,500-2,000 crore through an initial share-sale. The initial public offer (IPO) 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.
Aditya Birla Capital is one of the largest financial services players in India.