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- Upcoming IPO; Aditya Birla Sunlife Mutual Fund IPO Will Be Listed In Stock Market On 29th September
MumbaiOne hour agoAuthor: Ajit Singh
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The IPO of Aditya Birla Sunlife Mutual Fund, the fourth largest mutual fund company in the country, will open from September 29. It will close on 1 October. The company can keep the share price between Rs 750-800.
Fourth is the fund house that will be listed
This will be the fourth company in the country’s mutual fund industry to be listed on the stock market. As of now HDFC Mutual Fund, Nippon Mutual Fund and UTI Mutual Fund are the listed companies. The Nippon List was first held in the year 2017. After that HDFC was listed. Investors have made good gains in Nippon and HDFC shares.
Company’s AUM is Rs 3.02 lakh crore
The asset under management (AUM) of Aditya Birla Sunlife stood at Rs 3.02 lakh crore in August. With an AUM of Rs 6 lakh crore, SBI Mutual Fund is at number one followed by ICICI Prudential and HDFC Mutual Fund.
fund house with no banking parent
Birla Mutual Fund is a fund house without any banking parent. It has a good track record of 26 years. 72 lakh folios. The company does good business in cities beyond the top 30 cities. A total of 3.88 crore shares will be sold during the IPO. The company has set a target of raising Rs 3,000 crore through this.
There were 135 schemes till December 2020
Birla Mutual Fund had 135 schemes as of December 2020. It has 35 equity schemes, 93 debt, 2 liquid, 5 ETF (Exchange Traded Fund) and 6 funds of fund schemes. It is a trusted brand with experienced promoters. Birla holds 51% and Sun Life 49% in the mutual fund company. Birla Group operates in multiple sectors and has innovative schemes.
15,942 crore in 2018
Birla Mutual Fund’s total assets were Rs 15,492 crore in 2018 which increased to Rs 19,595 crore in December 2020. During this period, the net profit of the company increased from Rs 348 crore to Rs 369 crore in December 2020. Its profit in the first quarter of the current financial year was Rs 155 crore.
The fast-growing fund industry
The mutual fund industry of the country has grown rapidly in the last few years. At present, its total AUM is over Rs 36 lakh crore. It has grown seven times in the last 10 years. The fund industry’s AUM in 2016 was Rs 15.18 lakh crore. ICICI Securities has estimated the size of India’s mutual fund industry to be Rs 100 lakh crore by 2030. That is, in the next 9 years, this industry can grow three times. Every month an amount of 9 thousand crore rupees comes under SIP (Systematic Investment Plan) in the fund industry.
Investors showed good response
Investors in mutual fund companies like HDFC and Nippon showed good response. Experts believe that the way this industry is transparent and the way it is regulated, it will grow well in the future. Investors will get the benefit of this. In recent years, schemes from various fund houses have given returns of up to 100% to investors.