11 Oct , 2021 By : Kanchan Joshi
Aditya Birla AMC IPO listing: Shares of Aditya Birla Sun Life AMC is going to make its debut at Indian bourses today. Despite strong financials, the public issue worth Rs2,768 crore was subscribed 5.25 times only. According to stock market experts, this tepid response was mainly due to the 100 OFS (Offer for Sale) and high valuation of the IPO. They said that Aditya Birla AMC shares may have a muted debut with marginal gains.
Speaking on Aditya Birla AMC IPO listing; Abhay Doshi, founder at UnlistedArena.com said, "Aditya Birla Sun Life AMC got a moderate response from investors owing to valuations standing on a higher side, which makes a less room for investors in short term. However, owing to increase in financial literacy, the prospect of company as well as whole industry looks bright. We may not see fireworks on listing and it may be a muted debut with marginal gains over 5 to 10 per cent only."
On expected Aditya Birla AMC IPO listing gains; Ravi Singhal, Vice Chairman at GCL Securities said, "Aditya Birla AMC IPO may list at single digit percentage premium. I am expecting shares of Aditya Birla AMC to list in the range of Rs745 to Rs785 apiece — delivering 6-9 per cent listing gain to its investors."
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 Sun Life Financial Inc of Canada.
Asked about Aditya Birla AMC IPO listing price prediction; Santosh Meena, Head of Research, Swastika Investmart said, "At the upper price band of Rs712, the PE multiple works out at 33 based on annualized FY22 earnings, which is slightly lower than peers so there is room for minor listing gain. We can expect around 10-15 per cent listing gain as market sentiments are also bullish."
Asset management firms like Nippon Life India Asset Management, HDFC AMC, and UTI AMC are already listed on the stock exchanges.
Advising Aditya Birla AMC IPO investors to follow CAMS and UTI AMC IPO listing and post-listing pattern; Manoj Dalmia, Director & Founder, Proficient Equities Private Limited said, "Aditya Birla AMC shares are expected to list at marginal gains like CAMS and UTI AMC IPOs. However, ABSL shares are expected to follow CAMS and UTI AMC listing and post-listing pattern. So, one should book marginal listing gains coming in from the public issue and wait for the right time to re-enter keeping long-term time-horizon in mind."
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