“We like IT, especially digital focused companies and infrastructure and construction as well as Indian economy-facing stocks. ”

The company plans to raise Rs 1,500 crore through an initial public offering (IPO) through a fresh issue of shares, aggregating up to Rs 410.33 crore and an offer for sale (OFS) aggregating up to Rs 1,089.67 crore.

The 30-share BSE Sensex was up 2.98 points at 60080.86

“In the near term, given that markets have had such a great run, some degree of volatility could be seen.”

If one goes by grey market trends, the stock is commanding a grey market premium of Rs 225-250, suggesting a potential 143 per cent listing gain over its issue price of Rs 175.

The company plans to raise Rs 500 crore from the primary market. Along with that, its shareholders will also sell a total of 43,727,603 shares during the IPO.

In the Nifty50 index, 19 stocks closed in the green, while 30 stocks ended in the red.

The Nifty Bank index closed 0.59 per cent down at 37945.0.

The stock quoted a 52-week high of Rs 1063.75 and a 52-week low of Rs 660.1.

Aditya Birla Sun Life AMC IPO will open for subscription on Wednesday, September 19 and will close on Friday, October 1.