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Aditya Birla Sun Life AMC Debut On Share Market; Stocks Trade At Rs 715 On 1st Day

The shares were listed at a price of Rs 712 per share in a volatile market, while the price band of Rs 695-712 was fixed for the IPO of Rs 2768 crore.

Aditya Birla Sun Life AMC Debut On Share Market; Stocks Trade At Rs 715 On 1st Day

Sentinel Digital Desk

New Delhi: The shares of Aditya Birla Sun Life AMC were trading at Rs 175 on the first day after the AMC unit of Aditya Birla Group made a debut on Monday. However, this listing disappointed the investors as the investors did not get any listing gains.

The shares were listed at a price of Rs 712 per share in a volatile market, while the price band of Rs 695-712 was fixed for the IPO of Rs 2768 crore.

Its market cap at the time of listing stood at Rs 20505.60 crore. Post listing, the company joined the league of HDFC Asset Management Company, Nippon Life India Asset Management and UTI Asset Management Company on the domestic equity index.

Most of the research and brokerage firms have given advice to subscribe the Aditya Birla Sun Life AMC's IPO. This issue was purely offer for sale i.e. no new shares have been issued under it.

As per a report in the Financial Express, according to analysts Anand Rathi Shares & Stock Brokers, the company continues to be a strong market leader on the back of its consistent investment performance, wide distribution network, brand, experienced management team and superior customer service. As per them, the company's focus has increased due to more focus on equity based schemes and the company gets higher management fees on equity based schemes as compared to other schemes.

Aditya Birla Sun Life AMC is the largest non-banking AMC in the country. This is a well-known company of the country and its promoters are very experienced who are associated with many countries. Aditya Birla Sun Life Mutual Fund is a joint venture between the Aditya Birla Group and Sun Life Financial, a Canadian company.

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