Asset management firms like Nippon Life India Asset Management, HDFC AMC, and UTI AMC are already listed on the stock exchanges.
Shares of Aditya Birla Sun Life AMC are quoting at Rs 726 apiece, marking a premium of Rs 14 or 2% over its issue price of Rs 712.
The offer received bids for 2.99 crore shares against 2.77 crore shares on offer.
The issue looks priced in line with its listed peers. The long term prospects of the company tend to be impressive owing to huge under-penetration.
The price band for the asset management company has been fixed at Rs 695-712 per share having a face value of Rs 5 per share.
Aditya Birla Sun Life AMC Ltd, the investment manager of Aditya Birla Sun Life Mutual Fund, is a joint venture between the Aditya Birla Group and the