Industry- Financial and Investment.
Headquarters- Mumbai, Maharashtra.
Area served- India.
Key people- A Balasubramanian, Mahesh Patil, Parag joglekar.
Products- Portfolio Management, Mutual Fund, Real Estate.
Revenue- 12,058.41 Cr ( 2021).
Number of employees- 2600.
In a dynamic financial landscape, Aditya Birla Sun Life AMC Limited (ABSLAMC) stands tall as a prominent player offering a wide array of financial services to both individuals and corporate clients. This financial powerhouse, headquartered in Mumbai, Maharashtra, has carved a niche for itself through its robust offerings in insurance, wealth management, and asset management solutions. Let’s delve into the journey and offerings of ABSLAMC.
A Brief History
ABSLAMC’s roots trace back to 1994 when it was founded as a joint venture between Aditya Birla Capital Limited and Sun Life India AMC Investment Inc. Since its inception, the company has strategically engaged in multiple financial strategies, including portfolio management services, real estate investment, and alternative investment funds. Over the years, ABSLAMC has grown exponentially, positioning itself as one of India’s leading asset managers.
Impressive Figures as of June 2022
As of June 2022, ABSLAMC boasts impressive numbers with a total Assets Under Management (AUM) exceeding Rs 2936 billion across its various offerings, including mutual funds, portfolio management services, offshore investments, and real estate assets. The company takes pride in serving around 7.2 million investors across the nation.
Diverse Product and Service Portfolio
ABSLAMC’s diverse product and service portfolio caters to a broad spectrum of financial needs. The company offers domestic mutual funds, Portfolio Management Services (PMS), real estate investments, and offshore opportunities. Notably, it has managed 135 schemes, 5 Exchange-Traded Funds (ETFs), and 6 Domestic Funds of Funds (FOFs) as of December 31, 2020.
Embracing Digital Transformation
In line with the ever-evolving financial landscape, ABSLAMC places a strong emphasis on digitalization and automation across various operational facets. This includes online payment processing, customer onboarding, transaction management, fund management, dealing, accounting, customer services, data analytics, and more.
IPO Details and Milestones
ABSLAMC embarked on a significant milestone with its Initial Public Offering (IPO). The IPO aimed to raise funds through an initial public offering of Rs 2768.30 Crores, coupled with 3.88 Crores from an offer for sale. The company sought Rs 20,505 Crores at the upper end of the price band. The IPO concluded on October 1, 2021, and share allotments were finalized on October 6, 2021. The shares made a muted debut on the stock exchanges, starting at Rs 715 on the NSE against an issue price of Rs 712.
- Trusted and Recognized Brand: ABSLAMC boasts a well-recognized and trusted brand, backed by experienced promoters.
- Growing Customer Base: The company prides itself on its rapidly growing customer base, which includes institutional investors.
- Market Leadership: ABSLAMC is the largest non-bank-affiliated asset management company in India, solidifying its market leadership.
- Product Innovation: With a diversified product portfolio and innovative schemes, ABSLAMC continues to drive financial innovation and excellence.
ABSLAMC’s IPO garnered significant attention, being oversubscribed 5.24 times by the end of the final bidding day on October 1. Additionally, the Grey Market Premium (GMP) for ABSLAMC IPO increased to ₹20, marking a ₹4 increase compared to the previous day, according to market observers. Moreover, the company reported a substantial 37.99% surge in consolidated net profit, reaching Rs 173.07 Crores, and a 30.12% increase in revenue from operations to Rs 331.97 Crores in Q2 September 2021 over the same quarter in 2020, as reported by Business Standard.
In conclusion, Aditya Birla Sun Life AMC Limited stands as a leading force in India’s financial services sector, offering innovative solutions and constantly evolving to meet the diverse needs of its clients and investors. With its recent IPO and impressive financial performance, ABSLAMC continues to make strides in the financial world, solidifying its position as a trusted partner in wealth and asset management.
Address- One world centre. Tower 1, 17th flower, Senapati Bapat marg, Elphinstone Rd,
Kumar Mangalam Birla
CEO & MD
Chief Investment Officer
Non Excutive Director
Area Served- India
Parent- Aditya Birla Group