Reliance Nippon Life Asset Management Ltd IPO Details – Date, Company Profile, Allotment, Listing

Reliance Nippon Life Asset Management Ltd IPO Details – Date, Company Profile, Allotment, Listing

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Reliance Nippon Life Asset Management Ltd
Issue Period – 25 OCT – 27 OCT , 2017             Issue Size – 61,200,000 Eq Shares (Rs . 1542.24 Cr )
Issue Price – Rs.247 – Rs.252 per Eq Share      Market Lot – 59 Equity Shares
Face Value – Rs 10 per Eq Share                         Listing at – BSE, NSE
COMPANY PROFILE
Incorporated in 1995, Reliance Nippon Life Asset Management Ltd is Mumbai, India based asset management company. Company has market share of over 11.4% in mutual funds offerings in India. Reliance Nippon Life is ran ked the 2nd most profitable asset management company in India.Company is promoted by Reliance Capital Limited. Reliance Capital is an RBI registered non – banking finance company with business interests including in asset management and mutual funds, life, h ealth and general insurance, commercial and home finance, stock broking, wealth management services, distribution of financial products, asset reconstruction and proprietary investments. Reliance Ca pital Limited is a part of Reliance Group led by Mr. Anil D. Ambani. Reliance Nippon Life is involved in managing:1. Mutual funds (including ETFs);2. Managed accounts, including portfolio management services, alternative investment funds (AIFs) and pension funds; and3. Offshore fund s and advisory mandates.
THE OBJE C T OF THE ISSUE
1. Setting up new branches and relocating certain existing branches
2. Upgrading the IT system;
3. Lending to our Subsidiary (Reliance AIF) for investment as continuing interest in the new AIF schemes managed by Reliance AIF
OUR RECOMMENDATION
QIB (more than Rs / – 200,000/ – )                                50 % of Net Issue size
Non – Institutional (more than Rs / – 200,000/ – )     15% of Net Issue size
Retail (up to Rs / – 200,000/ – )                                      35 % of Net Issue size

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