Aditya Birla Capital may rally up to 30% ahead of MF arm IPO

Business


Aditya Birla Sun Life AMC is likely to be valued at over Rs 24,000 crore in the IPO, according to analyst estimates.

Synopsis

The share sale in Aditya Birla Sun Life Asset Management Company will unlock value in the financial services company belonging to the Aditya Birla Group, boosting its valuations.

MUMBAI: Shares of Aditya Birla Capital (ABCL) rose to two and half years high of Rs 134.50 on Wednesday after the company said its board will consider an Initial Public Offering (IPO) for its mutual fund subsidiary. The share sale in Aditya Birla Sun Life Asset Management Company, the country’s fourth largest mutual fund with assets of Rs2.55 lakh crore, will unlock value in the financial services company belonging to the Aditya Birla Group,

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