Aditya Birla Capital opened strong today at Rs.132, up 3% and then rose further to Rs.134.50, enticingly close to its 52-week high of Rs.139.60.

The company announced today morning that its Board has provided an in-principle approval to explore an IPO of Aditya Birla Sun Life AMC.

This AMC is the investment manager of Aditya Birla Sun Life Mutual Fund and is a JV between the Aditya Birla Group and the Sun Life Financial Inc. of Canada.