Aditya Birla Sun Life AMC Ltd made a muted market debut on Monday. Its share listing was at par with its issue price of Rs 712.
The stock listed at Rs 712 on BSE. Later, it touched a high of Rs 721 and low of Rs 700.
On NSE, it debuted at Rs 715, a marginal gain of 0.42 per cent from the issue price.
The initial public offer of Aditya Birla Sun Life AMC Limited received 5.25 times subscription earlier this month.
The initial public offer was in a price range of Rs 695-712 per share.
Aditya Birla Sun Life AMC Ltd, the investment manager of Aditya Birla Sun Life Mutual Fund, is a joint venture between Aditya Birla Group and Sun Life Financial Inc of Canada.
Asset management firms like Nippon Life India Asset Management, HDFC AMC, and UTI AMC are already listed on the stock exchanges.
(With inputs from PTI)