Promoters of this company of Aditya Birla Group will sell shares today
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Aditya Birla Group: Today the promoters of Aditya Birla Group company Aditya Birla Sun Life AMC are going to sell their seven percent stake to the investors today. Under the offer for sale, the promoters are going to sell shares worth about Rs 900 crore. The offer for sale for investors will open on March 19 and will close on March 20. According to the report, the company said in the information given to the stock market that Aditya Birla Capital Limited and Sun Life (India) AMC Investments Inc., have decided to sell 2,01,66,293 shares of the company through the offer for sale (OFS) through the stock exchange system. Have proposed. This is equal to seven percent stake. The promoters will get Rs 900 crore at the base price. With the green shoe option, they will be able to raise approximately Rs 1,487 crore.
Apart from offer for sale, there is also option
In the statement issued by the company, it has been said that apart from the offer for sale, there is also an option to sell 1,28,86,277 shares. This is equal to 4.47 percent stake. The minimum price for this will be Rs 450 per share. Shares of Aditya Birla Sun Life AMC Limited closed at Rs 475.35 on BSE, which is a decline of 0.75 percent. At the same time, in the last one month, investors have got a negative return of 2.26 percent. Whereas, the company has given returns of about 13 percent to investors on six month basis. At the same time, investors have got a tremendous return of 32.17 percent on an annual basis.
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Promoters hold 86.47% stake
BofA Securities India, IIFL Securities, Jefferies India and Spark Institutional Equities are the brokers for today’s sale. According to SEBI, 25 percent stake in any listed company in the market should be held by non-promoters. High promoter holding creates a problem between demand and supply. Due to this, fewer shares are available for buying and selling among the people in the market. According to this, 86.47 percent stake of the company is with Aditya Birla Sun Life AMC. Whereas, other people have a share in the market. Therefore shares are being sold by the company.
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