Aditya Birla Capital has received approval for the initial public offering by way of an offer for sale (IPO) of Aditya Birla Sun Life AMC (ABSLAMC), a material subsidiary of the Company, and has also approved sale of up to 28,50,880 equity shares of face value of Rs 5 each held by the Company in ABSLAMC out of the paid-up share capital of 28,80,00,000 equity shares of face value of Rs 5 each of ABSLAMC in the IPO.
Aditya Birla Capital is one of the largest financial services players in India.