Aditya Birla Capital, the holding firm of all of the monetary providers of the Aditya Birla Group, is planning a Dalal Avenue debut. The corporate is assembly with bankers to plan the IPO of its mutual fund enterprise — Aditya Birla Solar Life Asset Administration Firm.
Reviews say that the corporate is more likely to file IPO paperwork with market regulator SEBI in April itself.
Notably, the Board of Administrators of Aditya Birla Capital in March gave in-principle approval to discover an preliminary public providing of the AMC.
“The board of administrators of Aditya Birla Capital has offered its in-principle approval to discover an preliminary public providing of Aditya Birla Solar Life AMC, a cloth subsidiary of the corporate topic to market circumstances, receipt of relevant approvals and different concerns,” Aditya Birla Capital had stated in a regulatory submitting final month.
Aditya Birla Solar Life AMC is a three way partnership between the Aditya Birla Group and the Solar Life Monetary. It’s India’s fourth largest AMC. Whereas Aditya Birla Capital holds 51 per cent in Aditya Birla Solar Life AMC, the remaining 49 per cent is held by Solar Life, a Canadian monetary providers firm.
As per Aditya Birla Solar Life AMC, it has a complete home belongings below administration (AUM) of over to Rs 2,38,000 crore for the quarter ended September 30, 2020.
In the meantime, stories say that the corporate can also file IPO paperwork of its insurance coverage arm — Aditya Birla Solar Life Insurance coverage.