OFS of Aditya Birla Solar Life AMC will open right now, there’s a proposal to promote this many shares – India TV Hindi

The promoters of Aditya Birla Solar Life AMC have proposed to promote their seven p.c stake for Rs 900 crore. For this, the two-day Provide for Sale (OFS) will open on March 19. This OFS will shut on March 20. In keeping with Bhasha information, the promoters – Aditya Birla Capital Restricted and Solar Life (India) AMC Investments Inc., have proposed to promote 2,01,66,293 shares of the corporate via a suggestion on the market (OFS) via the inventory market mechanism. That is equal to seven p.c stake.

Choice to promote further 1,28,86,277 shares

In keeping with the information, the promoters will get Rs 900 crore on the base worth. And with the inexperienced shoe choice they may be capable of increase round Rs 1,487 crore. There may be additionally an choice to promote an extra 1,28,86,277 shares within the OFS, the assertion mentioned. That is equal to 4.47 p.c stake. The minimal worth for this might be Rs 450 per share. Allow us to let you know, the shares of Aditya Birla Solar Life AMC Restricted closed at Rs 475.35 with a decline of 0.75 p.c on BSE on Monday.

Promoters maintain 86.47% stake

BofA Securities India, IIFL Securities, Jefferies India and Spark Institutional Equities are the brokers for the transaction. In keeping with SEBI, 25 p.c stake in all listed corporations ought to be held by non-promoters. Excessive promoter holding can result in synthetic mismatch between demand and provide as fewer shares can be found for the general public to purchase and promote. Promoters maintain the bulk stake in Aditya Birla Solar Life AMC with 86.47% stake, whereas public shareholders maintain the remaining. Promoter group AB Capital holds about 49.99 per cent stake within the firm.

Aditya Birla Solar Life AMC, AB is the funding supervisor of Solar Life MF, a registered belief beneath the Indian Belief Act. AB Solar Life AMC additionally operates numerous different methods together with portfolio administration providers, actual property investments and different funding funds (AIFs). It is without doubt one of the main asset managers in India. It’s serving roughly 7.98 million investor folios with a complete AUM of Rs 3.24 lakh crore as of December 31, 2023.

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