Aditya Birla Capital soars on mutual fund arm's ‘listing’ plans

MUMBAI: Shares of Aditya Birla Capital (ABCL) rose to two and half years high of Rs 134.50 on Wednesday after the company said its board will consider an Initial Public Offering (IPO) for its mutual fund subsidiary. The share sale in Aditya Birla Sun Life Asset Management Company, the country's fourth largest mutual fund with assets of Rs2.55 lakh crore, will unlock value in the financial services company belonging to the Aditya Birla Group,