About the Company:
Aditya Birla Sun Life AMC Ltd is ranked as the largest non-bank affiliated AMC in India by QAAUM (Quarterly average assets under management) since March 31, 2018.
Company managed total AUM (Assets Under Management) of Rs.2936.42 billion ($40 billion) under our suite of mutual fund (excluding our domestic FoFs), portfolio management services, offshore and real estate offerings, as of June 30, 2021.
Company is the fifth largest player in terms of market share in individual MAAUM (Monthly average assets under management) among the top 10 AMCs as of June 30, 2021,
Since inception in 1994, company has established a geographically diversified pan-India distribution presence covering 284 locations spread over 27 states and six union territories.
Company managed 118 schemes comprising 37 equity schemes, 68 debt schemes, two liquid schemes, five ETFs and six domestic FoFs, as of June 30, 2021.
Company’s flagship schemes include Aditya Birla Sun Life Frontline Equity Fund and Aditya Birla Sun Life Corporate Bond Fund, both of which have grown to become leading funds in India under company’s management.
In addition, company also provides portfolio management services, offshore and real estate offerings and managed total AUM of Rs. 115.15 billion ($1.6 billion) as part of such services, as of June 30, 2021.
Company’s Background:
Aditya Birla Sun Life AMC Ltd is currently set up as a joint venture between ABCL and Sun Life AMC.
ABCL is the listed non-operating holding company of the financial services businesses of the Aditya Birla group, a Fortune 500 global conglomerate.
Through its various subsidiaries, ABCL managed total AUM of Rs.3,432.66 billion, had a consolidated lending book of over Rs.571.82 billion and an active customer base of over 25 million customers, as of June 30, 2021.
Sun Life Financial Inc., the ultimate holding company of Sun Life AMC, is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate clients.
Market Share of Top 10 AMCs:
Management Team:
- Mr. Kumar Mangalam Birla (Designation: Non-Executive Chairman)
- Mr. Ajay Srinivasan (Designation: Non – Executive Director)
Objectives of the Issue:
Offer for Sale: (Rs. 2768 cr)
- Company will not directly receive any proceeds from the Offer and all the Offer Proceeds will be received by the Selling Shareholders.
Positives for the Company:
Largest Non-bank Affiliated Asset Manager in India.
- Company has been amongst the leaders in the Indian mutual fund industry as demonstrated by company’s leading position across a number of key indicators.
- Company has maintained position as the largest non-bank affiliated AMC in India by QAAUM since March 31, 2018 as well as among the four largest AMCs in India by QAAUM since September 30, 2011.
Well-Recognized Brand with Experienced Promoters.
- Company benefits from the strong track record, reputation and experience of Promoters, ABCL (an Aditya Birla group company) and Sun Life AMC, and their respective affiliates, which have enabled company to build a brand that customers trust and that has a strong recall.
- The Aditya Birla group is a multi-national conglomerate and, over the last seven decades, has grown to become one of India’s largest and most respected corporate groups.
- The Aditya Birla group holds a leadership position in a variety of sectors such as metals, cement, carbon black, viscose staple fibre, mobile telecommunications, textiles, fashion retail, chemicals and financial services, among others, and employs approximately 120,000 people with operations in 36 countries around the world.
Caters to Wide range of Customers.
- Company caters to a wide range of customers from individuals to institutions through this pan-India network and offering of customer solutions, which positions company well to attract a large segment of the Indian mutual fund market across varying customer requirements and risk profiles and to develop a broad customer franchise with a strong retail customer base.
Pan-India, Diversified Distribution Network.
- Company has established a geographically diversified pan-India distribution presence, with a significant physical as well as digital presence. As of June 30, 2021, company had a presence in 284 locations, comprising 194 branches in India (and three outside India), spread over 27 states and six union territories.
Diverse Product Portfolio with Superior performance.
- As of June 30, 2021, company managed 112 mutual fund schemes, several of which have recorded superior performance compared to industry averages, as well as six domestic FoFs (Fund of fund). Company also provides portfolio management services, offshore funds and alternative investments.
Financials of the Company:
| (in Crores) | FY 19 | FY 20 | FY 21 | 30th June 2021 |
|---|---|---|---|---|
| Revenue | 1407.2 | 1234.7 | 1205.8 | 336.2 |
| Net Profit | 446.7 | 494.4 | 526.2 | 154.9 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Aditya Birla Sun Life AMC Ltd | 5 | 18.27 | 38.97 | 30.87% | 59.19 |
| HDFC Asset Management Company | 5 | 62.28 | 50.90 | 27.76% | 224.28 |
| Nippon Life India Asset Management | 10 | 10.90 | 38.46 | 21.94% | 50.29 |
| UTI Asset Management Company | 10 | 38.97 | 30.14 | 15.27% | 255.31 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 29th October 2021 |
| Issue Closes on:. | 1st October 2021 |
| Issue Price | Rs.695 – 712 |
| Face Value | Rs.5 |
| Retail Category Allocation | 35% |
| Minimum Lot | 20 Shares |
| Minimum Investment | Rs.14,240 |
| Issue Constitutes | 13.5% |
| Issue Size | Rs.2768 cr ($375 milion) |
| Market Cap | Rs.20505 cr ($2.77 billion) |
| Listing at | NSE & BSE |
| Equity Shares Offered (OFS) | 3,88,80,000 |
| Equity Shares Prior to thee Issue | 28,80,00,000 |
| Equity Shares after the Issue | 28,80,00,000 |
Also Read : List of Upcoming IPO’s in India.
Important Dates:
| Finalization of Basis of Allotment | on or Before 6th October 2021 |
| Initiation of Refunds | on or Before 7th October 2021 |
| Credit of Equity Shares: | on or Before 8th October 2021 |
| Listing Date: | on or Before 11th October 2021 |
Subscription Details: (Will be Updated)
| (Subscription-Category-Wise (no. of times) Till time : 06:00 PM) | Shares Offered | Day-1 | Day-2 | Day-3 |
|---|---|---|---|---|
| QIB | 73,87,200 | 0.00 | 0.06 | 10.36 |
| NII | 55,40,400 | 0.14 | 0.40 | 4.39 |
| Retail | 1,29,27,600 | 1.09 | 2.00 | 3.21 |
| Reservation Portion Shareholder | 19,44,000 | 0.31 | 0.71 | 1.68 |
| TOTAL | 2,77,99,200 | 0.56 | 1.08 | 5.24 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 18.27 | 38.97 | 30.87% | 59.19 |
| Check IPO Allotment Status: |
|---|
KfinTech Website: http://kfintech/IPO/Allotment_StatusBSE IPO Website: https://www.bseindia.com/IPO/Allotment |
| Company Contact Info: |
|---|
| Aditya Birla Sun Life AMC Ltd One World Center, Tower 1, 17th Floor Jupiter Mills, Senapati Bapat Marg Elphinstone Road, Mumbai, 400 013 Maharashtra, India. Telephone: +91 22 4356 8008; E-mail: ABSLAMC.CS@adityabirlacapital.com; Website: https://mutualfund.adityabirlacapital.com |
| IPO Registrar Info: |
|---|
| KFin Technologies Private Limited Selenium, Tower B, Plot No. – 31 and 32 Financial District Nanakramguda, Serilingampally Hyderabad, Rangareddi 500 032 Telangana, India Tel: +91 40 6716 2222 E-mail: absl.ipo@kfintech.com Website: www.kfintech.com |
