Reliance Nippon's IPO opened for subscription to public today and was fully subscribed within the first 15 minutes. As on 12:30 IST, the issue had been subscribed 2.58 times. The company has set a price band of Rs 247-252 for its IPO, which closes on Friday.
The scrip opened at Rs 579 and has touched a high and low of Rs 588.5 and Rs 568.7 respectively.
Reliance Capital Limited, a non-banking financial company, primarily engages in lending and investing activities in India. Its revenue mix comprises of life asset management business (~32%), general insurance (~28%) and Finance & Investments (12%) in FY17. Its other segments - AMC, housing, commercial finance and others contributed ~7%, ~6%, ~11% and ~4% respectively. Its AUM is at Rs. 4 lakh crore and capital adequacy ratio at 40% as on FY17.
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