Aditya Birla Capital on Wednesday mentioned its board has given in-principle approval to discover an preliminary public providing (IPO) of its arm Aditya Birla Sun Life AMC.
Aditya Birla Sun Life AMC Ltd, the funding supervisor of Aditya Birla Sun Life Mutual Fund, is a three way partnership between the Aditya Birla Group and the Sun Life Financial Inc. of Canada.
“The board of directors of Aditya Birla Capital has provided its in-principle approval to explore an initial public offering of Aditya Birla Sun Life AMC, a material subsidiary of the company subject to market conditions, receipt of applicable approvals and other considerations,” Aditya Birla Capital mentioned in a regulatory submitting.
The firm didn’t share every other particulars.
As per Aditya Birla Sun Life AMC, it has a complete home belongings beneath administration (AUM) of over to Rs 2,38,000 crore for the quarter ended September 30, 2020.
