IPO Note : Aditya Birla Sun Life AMC Ltd

September 29, 2021 . Equities Desk

Aditya Birla Sun Life AMC Ltd., is the fourth largest asset management company in India in terms of assets under management (AUM) and the largest non-bank mutual fund. It has an Assets under management (AUM) of Rs.275,454crs as of the end of June qtr. More than 50% of its AUM comes from institutional customers, which is one of the reasons why the AMC is very strong in terms of non-equity AUM. The company currently offers a total of 135 mutual fund schemes consisting of 35 equity schemes, 93 debt schemes, 2 liquid schemes and 5 ETFs. Post Issue, the Market capitalization of the company will be around Rs.20500crs at the upper price band rate of Rs.712. With the same upper price band, the stock is available at 38.9x FY21 EPS. While comparing with peers, ABSL AMC is trading cheaper than HDFC AMC and on a similar level with Nippon Life AMC. On RoE comparison, ABSL AMC has the highest RoE of 30.9% than any other listed peers. 

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