The initial public offer (IPO) of Aditya Birla Sun Life AMC Limited, promoted by Aditya Birla Capital (ABCL) and Sun Life (India) AMC Investments Inc, opened for subscription today. The company is offering shares with a face value of Rs 5 in the price range of Rs 695–Rs 712 to raise a total of Rs 2,768.26 crore.
A bid can be placed with a minimum of 20 shares (Rs 14,240) and a maximum of 280 shares (Rs 1,99,360). The shares are likely to be listed on October 11, 2021.
Investors looking to try their luck in Aditya Birla Sun Life AMC IPO can invest through different broking firms such as Upstox, Groww and Zerodha.
Here are the steps to invest in an IPO via Upstox:
Step 1: Log into the Upstox application or website with credentials.
Step 2: Select the IPO and create an IPO application.
Step 3: Add up to 3 bids within the price range.
Step 4: Confirm application.
Step 5: Accept the UPI mandate and block funds.
Here are the steps to invest in an IPO via Zerodha:
Step 1: Log into console and select ‘IPO’ in the ‘Portfolio’ menu.
Step 2: Select the IPO from the list of open issues.
Step 3: Enter UPI ID and place bids.
Step 4: Click on the checkbox to confirm that you have read the RHP and other documents and click on 'submit'.
Step 5: Accept mandate request on UPI app.
This year, there has been an uptick in the initial public offerings (IPO) in the Indian stock markets.
According to Upstox, Indian IPOs are poised for a record in 2021 after 38 firms raised Rs 71,800 crore as of August. In comparison, 16 public issues raised Rs 31,128 crore in 2020.
"This rise can be attributed to the abundant availability of liquidity, aided by both foreign and retail investors. The gradually recovering economy and positive investor sentiments have made this an opportune time for companies to list on stock exchanges," Upstox said.
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