, in its filing to the exchanges on Tuesday, informed that its Reliance General Insurance Company has filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). Despite this news, shares of the company slumped ~4% on the BSE in Tuesday’s morning trade.
The IPO comprises of a fresh issue of equity shares by the company aggregating up to Rs200cr, and an offer for sale by Reliance Capital Limited of up to 7.94cr equity shares. The face value of the equity shares is Rs10/share, the company said in a press note.
For this proposed IPO, the company has appointed Motilal Oswal Investment Advisors Limited, CLSA India Private Limited and Credit Suisse Securities (India) Private Limited as the global coordinators and book running lead managers to the issue. Haitong Securities India Private Limited, IndusInd Bank Limited, and YES Securities (India) Limited are the book running lead managers. Karvy Fintech Private Limited is the Registrar to the Offer, the company added.
The IPO is subject to receipt of requisite regulatory approvals, market conditions, and other considerations.
Reliance Capital Ltd's share price is currently at Rs130.70, down by Rs4.2 or 3.11%, from its previous closing of Rs134.90 on the BSE.
The scrip opened at Rs135.05 and has touched a high and low of Rs139 and Rs126.50, respectively. So far, 94,41,992 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs3,409.04cr.