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<ul><li><keyword id="6354731" type="General" weightage="20" keywordseo="state-bank-of-india" source="Orion">State Bank of India</keyword> in a statement said that the lender is exploring opportunities to offload 6% stake in the <keyword id="13222" type="General" weightage="20" keywordseo="sbi" source="Orion">SBI</keyword> Funds Management through <keyword id="6354763" type="General" weightage="20" keywordseo="ipo" source="Orion">IPO</keyword> route.</li><li>Currently, SBI has 63% stake in the fund house while the MF is reportedly valued at $7 billion.</li><li><keyword id="164487" type="General" weightage="20" keywordseo="sbi-mf" source="Orion">SBI MF</keyword> will be the third fund house to get listed on exchanges after UTI AMC and HDFC AMC.</li></ul>India’s largest lender, State Bank of India (SBI) has informed exchanges on Wednesday that SBI Mutual Fund (MF) may get listed and that SBI is looking to sell 6% stake in the company through the initial public offering (IPO). Currently, SBI has a 63% stake in the fund house and the remaining 37% is held by Paris-based AMUNDI Asset Management. SBI MF is a joint venture between SBI and AMUNDI Asset Management. A <a href="https://www.bloomberg.com/news/articles/2021-12-15/biggest-india-bank-exploring-ipo-for-mutual-fund-jv">Bloomberg report </a>said that the bank is looking to raise $1 billion through this IPO. <div type="image" title="SBI share" height="900" width="1200" msid="88292744" hostid="261"></div> SBI MF will become the third fund house to get listed on exchanges after UTI Asset Management and HDFC Asset Management. The fund house made a profit of ₹862 crore in FY21 from a total income of ₹1,619 crore. Also, it is among the top fund houses in the country with assets under management of ₹5.78 lakh crore as of September quarter. <a href="https://www.livemint.com/industry/banking/sbi-to-explore-offloading-6-stake-in-mf-arm-via-ipo-11639540226501.html">Reports </a>say that SBI’s plan to list the mutual fund arm is part of its strategy to monetise its non-core operations after divesting some of its stakes in life insurance and cards businesses last year. SBI had raised over ₹10,340 crore through the listing of SBI Cards and ₹8400 crore through SBI Life IPO. SEE ALSO:

SBI Mutual Fund to come up with an IPO; SBI to sell 6% out of 63% stake via the public issue

Mutual fund industry to see many mergers in next couple of years, says Aditya Birla Sun Life AMC’s CEO

<ul><li>The company is likely to announce its share allotment status on October 6.</li><li>The mutual fund company’s IPO was subscribed 5.25 times on the last day of bidding.</li><li>Investors have bid for 14.59 crore shares against the 2.77 crore shares on offer.</li></ul>The mutual fund company Aditya Birla Sun Life AMC is likely to announce the allotment of its initial public offering (IPO) status on Wednesday, October 6. The IPO was open for subscription between September 29 and October 1. The mutual fund company is looking to raise ₹2,768 crore through sale of 3.88 crore shares. The IPO proceeds will go to promoters since the company is a joint venture between Aditya Birla Capital and Canadian firm Sun Life AMC. Both the promoters will jointly sell a 13.5% stake in the company through the IPO. The IPO has received decent response from investors overall, however, qualified institutional buyers and non-institutional investors subscribed to it the most. Investors have bid for 14.59 crore shares against the 2.77 crore shares on offer. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscription status </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">10.36 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4.39 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Retail individual </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.24 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.25 </td></tr></tbody></table> Aditya Birla Sun Life AMC is the fourth largest mutual fund house in the country with ₹2.75 billion average assets under management after SBI MF, HDFC MF and ICICI Prudential MF as of June quarter. Analysts <a href="https://www.businessinsider.in/stock-market/news/aditya-birla-sun-life-amc-ipo-opens-today-and-analysts-bullish-on-the-growing-mutual-fund-industry/articleshow/86590770.cms">expect </a>the mutual industry’s AUM to grow by 11-13% in the next five years at ₹57 trillion and Aditya Birla Sun Life AMC to benefit from strong industry prospects given it is among the top five players. Here is how to check <keyword id="12243827" type="General" weightage="20" keywordseo="aditya-birla-sun-life-amc-ipo-allotment" source="Orion">Aditya Birla Sun Life AMC IPO allotment</keyword> status on stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select ‘Aditya Birla Sun Life AMC‘.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘Aditya Birla Sun Life AMC’.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ongc-returns-to-2-trillion-club-after-2-years-as-gas-crude-oil-prices-rise/articleshow/86778637.cms">ONGC returns to ₹2 trillion club after 2 years as gas, crude oil prices rise</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/paras-defence-space-technologies-stock-remains-in-5-upper-circuit-this-week/articleshow/86775804.cms">The party isn’t over for Paras Defence shareholders as the stock breaks through the ceiling three days in a row</a>

Aditya Birla Sun Life AMC IPO: Here’s how to check allotment status

If you are looking to invest in the initial public offering (IPO) of Aditya Birla Sun Life AMC, then go ahead as today, October 1, is the last day of the issue. The IPO application is live from 10 a.m. to 5 p.m. So far, in the first two days of subscription, the IPO has received a tepid response from all categories of investors. The portion reserved for retail investors was subscribed 2 times the issue size on the second day of the issue i.e. September 30. Overall, the issue was subscribed 1.08 times on the second day. The IPO has received bids for 2.99 crore equity shares against the IPO size of 2.77 crore equity shares. The grey market premium of the fund house’s IPO is nearly 3% higher at ₹20 per share from its price band of ₹695-712. The premium in the grey market fell from ₹70 in the last few days. The IPO for Aditya Birla Sun Life AMC opened Wednesday, September 29 and will close on October 1, with a price band of ₹695-712. Further, analysts are positive on the long term prospects of the company’s growth. They expect the mutual industry’s assets under management (AUM) to grow by 11-13% in the next five years to ₹57 trillion and Aditya Birla Sun Life AMC to benefit from strong industry prospects given it is among the top five players in the country. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Anand Rathi </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">BP Equities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Canara Bank Securities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Religare Broking </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Ventura </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Dalal &amp; Broacha </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Swastika </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Investmentz </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> A report by Nirmal Bang said, “ABSL enjoys a strong parentage, solid brand image, a decent distribution network and consistently high return on equity of over 30%. We thus recommend “subscribe for the long term.” “The MF industry will witness consolidation in the next 3-4 years of players who won’t be able to survive,” said A Balasubramanian, managing director and chief executive officer at Aditya Birla Sun Life AMC in an interview with Business Insider The ₹36 trillion mutual fund industry, in India, with 44 players may see mergers happening in the next couple of years considering the majority of the market is held by the country’s top 10 fund houses. Aditya Birla Sun Life AMC is the fourth largest mutual fund house in the country with ₹2.75 billion average assets under management after SBI MF, HDFC MF and ICICI Prudential MF as of June quarter. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/paras-defence-space-tech-ipo-continues-to-demand-a-premium-of-200-in-grey-market/articleshow/86663834.cms">Paras Defence &amp; Space Tech IPO continues to demand a premium of ₹200 in grey market</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/what-is-e-mandate-or-upi-autopay-and-how-to-enable-it-for-jio-hotstar-and-others/articleshow/86650600.cms">What is e-mandate or UPI autopay and how to enable it for Jio, Hotstar and others</a>

Aditya Birla Sun Life AMC IPO’s last day to subscribe, grey market indicates ₹20 premium

<ul><li>Aditya Birla Sun Life AMC’s IPO is opening on September 29 and will close on October 1.</li><li>The asset management company is looking to raise ₹2,768 crore through public listing.</li><li>Analysts expect the mutual industry’s AUM to grow by 11-13% in the next five years at ₹57 trillion and Aditya Birla Sun Life AMC to benefit from strong industry prospects given it is among the top five players.</li></ul>The initial public offering (IPO) of Aditya Birla Sun Life AMC is opening today, September 29, and will close on October 1. If you are looking to invest, here is what analysts are expecting from the company. Analysts expect the mutual industry’s assets under management (AUM) to grow by 11-13% in the next five years to ₹57 trillion and Aditya Birla Sun Life AMC to benefit from strong industry prospects given it is among the top five players in the country. “Going forward, the overall industry’s AUM is projected to grow between 11-13% from 2021-2026 and reach ₹57 trillion, largely driven by a pick-up in corporate earnings following stronger economic growth, higher disposable income and investable household surplus, improving technology and expanding internet footprint and better awareness of mutual funds as long-term wealth creators,” said Religare Broking in a report. “Moreover, the fund house stands to benefit from strong industry prospects as it has a diversified product portfolio and also offers customised solutions to meet financial goals,” added the report. The mutual fund company will be the fourth fund house to get listed on exchanges. So far, HDFC AMC, Nippon Life India AMC and UTI AMC are listed. However, analysts believe the IPO pricing is undervalued compared to other listed peers HDFC AMC and Nippon India AMC. Ventura Securities expects a potential upside of 25% in the stock over the next 24 months while it recommends subscribing to the IPO for the long term. Here is the list of brokerages that have recommended subscribing to the IPO: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Anand Rathi </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">BP Equities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Canara Bank Securities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Religare Broking </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Ventura </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Dalal &amp; Broacha </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Swastika </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Investmentz </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> The mutual fund company is looking to raise ₹2,768 crore through sale of 3.88 crore shares. The IPO proceeds will go to promoters since the IPO is an offer for sale by promoters. The fund house is a joint venture between Aditya Birla Capital and Canadian firm Sun Life AMC. Both the promoters will jointly sell a 13.5% stake in the company through the IPO. A report by Nirmal Bang said, “ABSL enjoys a strong parentage, solid brand image, a decent distribution network and consistently high return on equity of over 30%. We thus recommend to “subscribe for the long term.” Aditya Birla Sun Life AMC is the fourth largest mutual fund house in the country with ₹2.75 billion average assets under management after SBI MF, HDFC MF and ICICI Prudential MF as of June quarter. The company manages 135 schemes comprising 35 equity, 93 debt, 2 liquid schemes, 5 exchange traded funds (ETFs), and 6 domestic Funds of Funds as of December 31, 2020. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/swiggy-tightens-focus-on-grocery-delivery-as-zomato-steps-out/articleshow/86582683.cms">Swiggy tightens focus on grocery delivery, as Zomato steps out</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/raymonds-share-rise-as-company-charts-consolidation-plan-of-its-other-businesses/articleshow/86582440.cms">Investors cheer Raymond’s restructuring plan to reduce debt</a>

Aditya Birla Sun Life AMC IPO opens today, analysts bet high on the growing mutual fund industry

<ul><li>Aditya Birla Sun Life AMC’s IPO is opening on September 29 and will close on October 1.</li><li>The firm is looking to raise ₹2,768 crore through public listing.</li><li>Aditya Birla Sun Life AMC is the fourth largest mutual fund house in the industry with ₹2.75 billion average assets under management.</li></ul>The initial public offering (IPO) of Aditya Birla Sun Life AMC is opening on Wednesday, September 29 and closing on October 1. The IPO of the mutual fund company might receive a good response from investors considering its decent premium in the grey market. The grey market premium of the fund house’s IPO is 10% higher at ₹70 per share from its price band of ₹695-712. The mutual fund company is looking to raise ₹2,768 crore through sale of 3.88 crore shares. Meanwhile, analysts feel that there is little room for the stock to rise in the near term. Abhay Doshi, founder at UnlistedArena.com told <a href="https://www.livemint.com/market/ipo/aditya-birla-amc-ipo-what-gmp-signals-before-subscription-opens-this-week-11632710781633.html">Mint</a> that, “At the upper band of ₹712, the issue looks priced in-line with its listed peers…The long term prospect of the company tends to be impressive owing to huge under-penetration in capital markets but at the same time, there are many alternatives present to play this theme." Here are some of the important dates related to the IPO: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹695 to ₹712 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">September 29 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">October 1 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">October 6 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;background-color:#ffffff;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">October 7 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">October 8 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;background-color:#ffffff;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">October 11 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">20 </td></tr></tbody></table> Aditya Birla Sun Life AMC is the fourth largest mutual fund house in the country with ₹2.75 billion average assets under management after SBI MF, HDFC MF and ICICI Prudential MF as of June quarter. The mutual fund company will be the fourth fund house to get listed on exchanges. So far, HDFC AMC, Nippon Life India AMC and UTI AMC are listed. The IPO will make a debut by selling 3.88 crore shares to the public. The company manages 135 schemes comprising 35 equity, 93 debt, 2 liquid schemes, 5 exchange traded funds (ETFs), and 6 domestic Funds of Funds as of December 31, 2020. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-shares-hit-record-high-trading-at-over-2500/articleshow/86547883.cms">Reliance Industries’ shares hit record high, trading at over ₹2500 in early morning trade</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/zee-entertainment-shares-fall-in-todays-trade-as-invesco-insists-the-board-to-hold-egm-before-sony-deal/articleshow/86546922.cms">Zee Entertainment shares fall 3% in today’s trade as Invesco insists the board to hold EGM before Sony deal</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/these-upcoming-movies-from-akshay-kumar-aamir-khan-and-ajay-devgn-will-be-screened-in-maharashtra-from-october-22/articleshow/86548487.cms">These upcoming movies from Akshay Kumar, Aamir Khan and Ajay Devgn will get a boost as PVR, INOX and other screens in Maharashtra open next month</a>

Aditya Birla AMC IPO’s grey market premium stands at ₹70 per share; up 10% from issue price band

<ul><li>One of top mutual fund companies, <keyword id="6471477" type="General" weightage="20" keywordseo="aditya-birla-sun-life-amc" source="Orion">Aditya Birla Sun Life AMC</keyword> will open its IPO on September 29 and end on October 1.</li><li>The issue size of the IPO is ₹2,768 crore on the higher price band ₹695-712 per share.</li><li>Aditya Birla Sun Life AMC is the fourth largest mutual fund house in the country with ₹2.75 billion average assets under management.</li></ul>Aditya Birla Sun Life AMC is all set to open its initial public offering (IPO) next week on September 29 and close on October 1. The <keyword id="1819649" type="General" weightage="20" keywordseo="mutual-fund-company" source="Orion">mutual fund company</keyword> is looking to raise ₹2,768 crore through sale of 3.88 crore shares. The mutual fund company will be the fourth fund house to get listed on exchanges. So far, HDFC AMC, Nippon Life India AMC and UTI AMC are listed. Aditya Birla Sun Life AMC is the fourth largest mutual fund house in the country with ₹2.75 billion average assets under management after SBI MF, HDFC MF and ICICI Prudential MF as of June quarter. The IPO proceeds will go to promoters since the company is a joint venture between Aditya Birla Capital and Canadian firm Sun Life AMC. Both the promoters will jointly sell a 13.5% stake in the company through the IPO. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹695 to ₹712 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">September 29 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">October 1 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">October 6 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">October 7 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">October 8 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">October 11 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">20 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> The IPO will make a debut by selling 3.88 crore shares to the public. The company manages 135 schemes comprising 35 equity, 93 debt, 2 liquid schemes, 5 exchange traded funds (ETFs), and 6 domestic Funds of Funds as of December 31, 2020. The mutual fund company has been in the top five list of fund houses with highest assets under management and consistent growth in profit. <div type="image" title="aditya birla revenue chart" height="900" width="1200" msid="86475324" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/vijay-shekhar-sharma-gets-nearly-half-of-new-shares-as-paytm-doubles-its-esop-pool-ahead-of-ipo/articleshow/86473067.cms">Vijay Shekhar Sharma gets nearly half of new shares as Paytm doubles its ESOP pool ahead of IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/sensex-scales-60000-as-tcs-near-its-all-time-high/articleshow/86471538.cms">Sensex scales 60,000 as TCS near its all-time high, ONGC near a two-year high</a>

Aditya Birla Sun Life AMC’s ₹2768 crore IPO will open on September 29

<ul><li>The IPO of the quick-service restaurant (QSR) chain was subscribed 157 times on the final day of bidding.</li><li>The stellar response makes it the second most successful IPO of 2020 after Mazagon Dock shipbuilders.</li><li><keyword id="33542" type="COMPANY" weightage="20" keywordseo="Burger-King">Burger King</keyword> allotment status will be announced on December 9, and the shares will hit the bourses on December 14. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a></li></ul>The ₹810 crore initial public offering (IPO) of <keyword id="2588696" type="PERSON" weightage="20" keywordseo="Burger-King-India">Burger King India</keyword> has seen a ‘whopper’ response from investors on the final day of offering. The public issue of the quick-service restaurant (QSR) chain was subscribed 157 times on December 4, the final day of bidding. This makes it the <a href="https://www.chittorgarh.com/report/top_10_ipo_by_subscription_yearly/10/">second most successful IPO of 2020</a> by subscription after Mazagon Dock shipbuilders. The non-institutional investor portion was the most subscribed, followed by qualified institutional buyers and individual retail investors. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Burger King India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QIB </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NII </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RII </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO subscription </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">86.64x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">354.11x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">67.41x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">156.52x </td></tr></tbody></table> The appetite for Burger King India’s IPO has been building up with the issue getting subscribed on day one itself. Given its robust franchisee model, valuations, and strong expansion plans — analysts had recommended subscribing to this IPO. According to Angel Broking, Burger King was priced at a significant discount compared to Jubilant Foodworks and looking at the valuation and the growth of the company, the issue was ‘attractive.’ The IPO opened up on December 2, and ahead of the offering, the company raised ₹364.5 crore from 55 anchor investors, including ICICI Prudential, Fidelity Funds, Government of Singapore, IDFC MF, SBI MF, among others. The IPO price band was set at ₹59-60 per share, and the grey market premium promises strong listing gains. The grey market premium of the food giant also soared nearly 58% to ₹34-35, up from 42% on the first day of subscription. The grey market premium is the measure of the extra amount that the market is ready to pay for a newly listed company’s shares. However, it is not an official measure of the market premium. But it is a fair indicator of demand for the shares in the market. Listing and subscription status <keyword id="8291503" type="UNKNOWN" weightage="20" keywordseo="Burger-King-IPO">Burger King IPO</keyword> The basis of allotment for Burger King IPO will be announced on December 9, and the shares will hit the bourses on December 14. Once the basis of allotment is done, the investors can check their subscription status on Burger King IPO registrar’s Link Intime India Private <a href="https://linkintime.co.in/MIPO/IPO.aspx">website</a>. However, after this stellar response that Burger King India IPO has garnered, one thing is certain — not all investors will get the same amount of shares that they had subscribed for. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/a-coordinated-global-network-of-hackers-tried-to-break-into-the-covid-19-cold-chain-which-transports-vaccines-at-94-degrees-fahrenheit/articleshow/79549902.cms" data-type="tilCustomLink">A coordinated, global network of hackers tried to break into the COVID-19 'cold chain,' which transports vaccines at -94 degrees Fahrenheit</a> <a href="https://www.businessinsider.in/tech/news/sbis-mobile-banking-app-is-down-for-the-third-time-in-last-30-days/articleshow/79548953.cms" data-type="tilCustomLink">SBI’s mobile banking app is down for the third time in 30 days — digital services take a hit for the 25th time this year</a>

Everyone wants a bite of the Burger King India IPO

<ul><li>The shares of <keyword id="33542" type="COMPANY" weightage="20" keywordseo="Burger-King">Burger King</keyword> India are hovering at a premium of around <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/burger-king-shares-enjoy-85-premium-in-grey-market-ahead-of-mondays-listing/articleshow/79703456.cms" data-type="tilCustomLink">₹49-51</a> in the grey market— which suggests an upside of 85% over the issue price band.</li><li>The public issue of the quick-service restaurant (QSR) chain saw a stellar demand — making it the second most successful IPO of 2020 after Mazagon Dock shipbuilders. </li><li>The company is proposed to list on both stock exchanges (BSE &amp; NSE)</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The shares of the recently concluded Burger King India IPO are soaring in the grey market ahead of its listing on Monday. The company is proposed to list on both stock exchanges (BSE and NSE), and the net proceeds from IPO would be utilised to roll out new restaurants, and other corporate purposes. The shares of Burger King India are hovering at a premium of around <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/burger-king-shares-enjoy-85-premium-in-grey-market-ahead-of-mondays-listing/articleshow/79703456.cms" data-type="tilCustomLink">₹49-51</a> in the grey market — which suggests an upside of 85% over the issue price band of ₹59-60. The grey market premium is the measure of the extra amount that the market is ready to pay for a newly listed company’s shares. However, it is not an official measure of the market premium. But it is a fair indicator of demand for the shares in the market. Stellar demand for its IPO The public issue of the quick-service restaurant (QSR) chain saw a stellar demand — making it the second most successful IPO of 2020 after Mazagon Dock shipbuilders. The offer was subscribed 157 times on December 4, the final day of bidding — as it received bids for 11.67 billion shares, against the 74.49 million on offer. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Burger King India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified institutional buyer </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional investors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail individual investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO subscription </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">86.64x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">354.11x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">67.41x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">156.52x </td></tr></tbody></table> What impressed investors? New restaurant roll out on cards The company has grown into a pan-India QSR chain with 259 company-owned Burger King Restaurants and 9 sub-franchised Burger King Restaurants. The company has a target of 370 stores by December 2022 and 700 by 2026. It is one of the youngest and the fastest growing restaurant chains in India. The discounted valuation Analysts believed that compared to its other listed rivals, the IPO price band of Burger King was set at a significant discount and was an attractive issue to <a href="https://www.businessinsider.in/business/corporates/news/burger-king-grey-market-premium-and-heres-what-brokerages-say-about-the-ipo-opening-tomorrow/articleshow/79508730.cms#:~:text=on%20attractive%20valuations-,Burger%20King%20India%20IPO%20opens%20today,recommend%20'subscribe'%20on%20attractive%20valuations&amp;text=Ahead%20of%20the%20IPO%2C%20the,%E2%82%B959%2D60%20per%20share.">‘subscribe’ </a>for. Marquee investors Ahead of the IPO, the company had raised ₹364.5 crore from 55 anchor investors including ICICI Prudential, Samsung India Securities, Nippon Life, Fidelity Funds, Government of Singapore, IDFC MF, SBI MF, Monetary Authority of Singapore, among others. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-irctc-hdfc-bank-tcs-tvs-motor-dalmia-bharat-ultratech-acc-ambuja-and-others/articleshow/79672813.cms">Top stocks to watch — IRCTC, HDFC Bank, TCS, TVS Motor, Dalmia Bharat, UltraTech, ACC, Ambuja, and others</a> <a href="https://www.businessinsider.in/business/corporates/news/8-5-billion-tvs-group-restructures-ownership-of-group-companies-to-scrap-holding-company/articleshow/79672828.cms">$8.5 billion TVS Group restructures ownership of group companies, to scrap holding company</a> <a href="https://www.businessinsider.in/stock-market/news/airbnb-is-worth-more-than-the-3-largest-hotel-chains-combined-after-its-stock-popped-143-on-its-first-day-of-trading/articleshow/79672395.cms">Airbnb is worth more than the 3 largest hotel chains combined after its stock popped 143% on its first day of trading</a>

Burger King India’s grey market appetite surges ahead of the stock debut tomorrow

New Delhi, Nov 21 () Kerala-based lender CSB Bank on Thursday raised Rs 184 crore from anchor investors, ahead of its initial share sale commencing on Friday.
CSB Bank, which aims to raise up to Rs 410 crore, has fixed a price of Rs 193-195 per share for the initial public offer.
According to a regulatory filing, CSB Bank has finalised the allocation of 94,54,080 shares at Rs 195 apiece to 24 anchor investors, including five mutual funds. Based on the price, the total proceeds would be little over Rs 184 crore.
Omers Administration Corporation OAC Custody Account (SCV6), ICICI Prudential MF, SBI MF, Aditya Birla Sun Life Trustee, Axis MF, Sundaram MF, HSBC and Ashoka India Opportunities Fund are among the anchor investors.
The shares are being sold to anchor investors at the upper end of the IPO price band of Rs 195 apiece.
CSB Bank's offer involves a fresh issue of shares to raise up to Rs 24 crore and an Offer For Sale of 1.97 crore scrips by existing investors. The latter would be worth around Rs 385 crore.
The share sale would be open from November 22 to 26.
On November 19, the bank's Managing Director and Chief Executive C V R Rajendran said its promoter entity Fairfax India Holdings Corporation's stake would go down to 49.73 per cent from 50.09 per cent.
The promoter entity, which acquired 51 per cent in the bank in February, has five years to reduce holding to 40 per cent and 15 years to go down to 15 per cent in compliance with the RBI requirements.
As part of the same requirements, it had to list by September 2019 and some procedural aspects resulted in a marginal delay, he had said. RAM BAL

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