has kept proposed initial share-sale of Aditya Birla Sun Life AMC
in ‘abeyance’, an update with the watchdog showed on Monday.
However, the Sebi
did not clarify further. The asset management company had filed preliminary papers with Sebi
in April to raise funds through through an initial public offer (IPO).
Going by the draft papers, the proposed IPO
is entirely an offer for sale, wherein two promoters — Aditya Birla Capital and Sun Life (India) AMC Investments — will divest their stake in the asset management firm.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)