April 20, 2021 / 09: 37 AM IST
Aditya Birla Capital half trace rose 6 percent within the early trade on April 20 after the firm's subsidiary filed a draft pink herring prospectus (DRHP) with the Securities and Replace Board of India (SEBI) for an preliminary public offer.
"Aditya Birla Solar Existence AMC Restricted (ABSLAMC), a subject cloth subsidiary of Aditya Birla Capital, has filed a draft pink herring prospectus (DRHP) with the Securities and Replace Board of India (SEBI) for an preliminary public offer through an offer within the marketplace of shares of ABSLAMC," firm acknowledged in its open.
Aditya Birla Capital Restricted (ABCL) has accredited the sale of up to 28,50,880 equity shares of the face trace of Rs 5 each held in ABSLAMC out of the total paid-up half capital of 28,80,00,000 equity shares, it added.
Solar Existence (India) AMC Investments Inc, the joint endeavor shareholder in ABSLAMC, accredited the sale of up to about a,60,29,120 equity shares of the face trace of Rs 5 each held in ABSLAMC thru the IPO.
The proposed sale of equity shares by ABCL and Solar Existence India within the IPO will collectively constitute up to 13.50 percent of the paid-up half capital of ABSLAMC.
Aditya Birla Solar Existence AMC Ltd, the funding manager of Aditya Birla Solar Existence Mutual Fund, is a joint endeavor between the Aditya Birla Community and the Solar Existence Monetary Inc of Canada.
An Supply within the marketplace (OFS) is a more good technique of half sale thru the alternate platform for promoters of publicly traded corporations to prick again their holdings and follow the minimal public shareholding norms.
The OFS mechanism is aged only when unique shares are positioned on the block. Easiest promoters or shareholders keeping more than 10 percent of the half capital in a firm can contrivance up with such an subject.
At 09: 23 hrs, Aditya Birla Capital became quoting at Rs 119.80, up Rs 4.35, or 3.77 percent on the BSE.
The half touched a 52-week excessive of Rs 139.60 and a 52-week low of Rs 37.45 on 09 March, 2021 and 24 March, 2020, respectively.
For the time being, it's trading 14.18 percent below its 52-week excessive and 219.89 percent above its 52-week low.