Aditya Birla Capital, Sun Life AMC to sell 5% stake in Aditya Birla Sun Life AMC: Report

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Aditya Birla Capital and Sun Life AMC may sell 5% of their stake in Aditya Birla Sun Life AMC through an offer-for-sale, CNBC-TV18 reported on Tuesday. The promoters are planning to trim their  stakes in a bid to match SEBI’s public float norms. Both the companies are part of the Aditya Birla Sun Life AMC’s promoter group.

As per the report, the company has to reduce the promoter stake to 75% by September 2024 from the current 86.47%. The report said Aditya Birla Capital is planning to cut its stake in Aditya Birla Sun Life AMC to 45%, while Sun Life AMC is likely to reduce to 30% by September 2024.

As per the company’s latest shareholding data, Aditya Birla Capital owned a 49.99% stake while Sun Life (India) AMC Investments had a 36.48% ownership.

“The entire share sale could be done in a couple of tranches depending on investor demand. Currently, the company is engaged in discussions with the investors to see their interest,” a source said.

Business Today could not confirm the report independently. 

Shares of Aditya Birla Sun Life AMC Ltd. closed at Rs 503.65, down by 4.19%.

Aditya Birla Sun Life AMC reported a 26% increase in December quarter net profit to Rs 209 crore against Rs 166 crore last year. The company’s income increased 16 per cent to Rs 421 crore (Rs 363 crore). Expenses were up 12 per cent at Rs 157 crore (Rs 140 crore).

The quarterly average AUM including alternate assets was up 11 per cent to Rs 3.25 lakh crore while the MF asset also increased 11 per cent to Rs 3.11 lakh crore. Equity asset jumped 13 per cent to Rs 1.36 lakh crore with individual monthly average AUM of Rs 1.66 lakh crore an increase of 14 per cent.

B-30 monthly average AUM was up 14 per cent to Rs 55,500 crore and passive AUM increased 36 per cent to Rs 29,300 crore.

Monthly systematic flows (including STP) jumped 7 per cent to Rs 1,005 crore (Rs 942 crore) with live SIP accounts falling to 3.24 million (3.26 million). It registered about 2.35 lakh (2.26 lakh) new SIPs in the December quarter.

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