ABSL AMC IPO likely in September

The initial public offering of Aditya Birla Sun Life Asset Management Company is expected to launch in the last week of September, said investment bankers. The country’s fourth-largest mutual fund with assets under management of Rs 2.75 lakh crore is looking to raise around Rs 3,000 crore in the share sale, valuing the company at about Rs 24,000 crore. It is a joint venture of Aditya Birla Group and Canada based Sun Life group.