Asset administration firms, HDFC AMC, Nippon AMC and UTI AMC, are listed on bourses
Aditya Birla Capital’s Board of Directors has offered an in-principle approval to its mutual fund arm Aditya Birla Sun Life AMC, India’s fourth largest asset administration firm (AMC), to discover the opportunity of launching an preliminary public providing, Aditya Birla Capital stated on Wednesday.
“The Board of Directors of Aditya Birla Capital at its meeting held today i.e. 17 March 2021, has provided its in-principle approval to explore an initial public offering of Aditya Birla Sun Life AMC, a material subsidiary of the Company subject to market conditions, receipt of applicable approvals and other considerations,” Aditya Birla Capital stated in a in a regulatory submitting to the inventory exchanges.
Aditya Birla Capital holds 51 per cent in Aditya Birla Sun Life AMC and the remaining 49 per cent is held by Sun Life, a Canadian monetary companies firm.
Asset administration firms, HDFC AMC, Nippon AMC and UTI AMC, are at the moment listed on the bourses.
At 11:30 am, the shares of Aditya Birla Capital had edged increased by 0.3 per cent at Rs 126.20 on the BSE.
