Aditya Birla Capital planning for IPO for its mutual fund business

Aditya Birla Capital is planning a Dalal Street debut, and meeting with bankers to plan the IPO of its mutual fund business – Aditya Birla Sun Life Asset Management Company. According to the report, the company is likely to file IPO documents with market regulator SEBI in April itself.

Notably, the Board of Directors of Aditya Birla Capital in March gave in-principle approval to explore an initial public offering of the AMC.

Aditya Birla Capital, in a recent regulatory filing, said, “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.”