Aditya Birla Capital on Monday announced that the company will sell 4.99% stake in Aditya Birla Sun Life AMC via the offer for sale (OFS) route, the group’s mutual fund arm, to comply with the minimum public shareholding norms prescribed by the Securities and Exchange Board of India.
“Board of Directors of Aditya Birla Capital Limited, at its meeting held today on 18 March, 2024, approved the sale of shares up to 1,43,88,662 equity shares of Aditya Birla Sun Life AMC Limited (“ABSLAMC”) representing 4.99% of the issued and paid-up equity share capital of the ABSLAMC, by way of an offer for sale through stock exchange mechanism, in accordance with the applicable laws, in order to achieve minimum public shareholding of the ABSLAMC, as required under the applicable laws,” Aditya Birla Capital said in an exchange filing.
Shares of Aditya Birla Capital ended at Rs 172.90 on the NSE on Monday, while that of Aditya Birla Sun Life AMC ended at Rs 474.55 on the NSE.
