Aditya Birla Sun Life AMC IPO Subscription Day 3

Aditya Birla Sun Life AMC IPO Subscription Day 3
IPO
by 5paisa Research Team 01/10/2021

The Rs.2,768.26 crore IPO of Aditya Birla Sun Life AMC Ltd, consisting entirely of an offer for sale (OFS) of Rs.2,768.26 crore, was already fully subscribed on Day-2. As per the combined bid details put out by the BSE, Aditya Birla Sun Life AMC Ltd IPO was subscribed 5.23  times overall, with bulk of the demand coming from the QIB segment. The issue has closed for subscription on Friday, 01st October.

Check :- Aditya Birla Sun Life AMC IPO Subscription Day 2

As of close of 01st October, out of the 277.99 lakh shares on offer in the IPO, Aditya Birla Sun Life AMC Ltd saw bids for 1,454.09 lakh shares. This implies an overall subscription of 5.23X. The granular break-up of subscriptions were tilted in favour of QIB investors but HNI and retail bids were also fairly robust.

Aditya Birla Sun Life AMC Ltd IPO Subscription Day-3

Category

Subscription Status

Qualified Institutional Buyers (QIB)

10.36 Times

Non Institutional Investors (NII)

4.39 Times

Retail Individuals

3.22 Times

Group Shareholders

1.52 Times

Overall

5.23 times


QIB Portion

On 28 September, Aditya Birla Sun Life AMC Ltd did an anchor placement of 110.81 lakh shares at the upper end of the price band of Rs.712, raising Rs.789 crore. The list of QIB investors included a number of FPI names like HSBC, IMF, ADIA, Morgan Stanley, Societe Generale etc. It included domestic institutions like ICICI Pru MF, HDFC MF, SBI MF, Axis MF, SBI Life, HDFC Life, Kotak MF, IIFL Special Opportunities Fund and Abakkus Growth Fund. 

The QIB subscription ended quite robust at the end of Day-3. The QIB portion (net of anchor allocation of 110.81 lakh shares as above) had a quota of 73.87 lakh shares of which it has got bids for just 765.18 lakh shares, implying a subscription of 10.36X by QIBs at the close of Day-3. QIB bids got bunched on the last day, although the anchor response had already indicated strong interest in the issue from institutional investors.

HNI Portion

The HNI portion got subscribed 4.39X (getting applications for 243.09 lakh shares against the quota of 55.40 lakh shares). Considering the response on Day-3 for the HNI segment it looks like the funded applications were largely limited. Normally, the funded applications automatically get limited when the issue size is larger and subscription is limited.

Retail Individuals

The retail portion was subscribed 3.22X at the end of Day-3, showing strong retail appetite. For retail investors; out of the 129.28 lakh shares on offer, valid bids were received for 416.23 lakh shares, which included bids for 319.28 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.695-Rs712) and has closed for subscription on 01st October.

Also Read:-

1) Aditya Birla Sun Life AMC IPO : 7 Things to Know About

2) Upcoming IPOs in 2021

3) List of Upcoming IPOs in October 2021

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