Reliance Nippon AMC lists at 17% premium

India Infoline News Service | Mumbai | November 06, 2017 11:06 IST

The equity shares of Reliance Nippon Life Asset Management Ltd (RNAM) were listed today on the exchanges. The stock listed at Rs 295.9, a premium of Rs 43 .9 or 17.4%.

Anil Ambani
The equity shares of Reliance Nippon Life Asset Management Ltd (RNAM) were listed today on both the NSE and the BSE. The stock listed at Rs 295.9, a premium of Rs 43.9 or 17.4% (on the upper band of the IPO price of Rs. 252). RNAM was admitted to dealings on the BSE in the list of 'B' Group Securities. The stock codes for RNAM on the BSE and NSE respectively are 540767 and RNAM.

RNAM is an India based asset management company. Company is promoted by Reliance Capital Limited and Nippon Life.

Reliance Capital is an RBI registered non-banking finance company with business interests in asset management and mutual funds, life, health and general insurance, commercial and home finance, stock broking, wealth management services, and distribution of financial products, asset reconstruction and proprietary investments.

Nippon Life Insurance Company, one of the leading private life insurers in Japan is the co-promoter of the company. Nippon Life offers a wide range of financial products, including individual and group life and annuity policies. Company has assets of over USD 577 billion.

Reliance Nippon Life is involved in managing Mutual funds (including ETFs); Managed accounts, including portfolio management services, alternative investment funds (AIFs) and pension funds; as well as offshore funds and advisory mandates.

The company manages 55 open-ended mutual fund schemes including 16 ETFs and 174 closed ended schemes. Company has a network of 171 branches and over 58,000 distributors including banks, financial institutions, national distributors and independent financial advisors as of June 30, 2017.

The IPO issue was for 6.12 Cr equity shares aggregating up to Rs 1,542.24 Cr. It consisted of a fresh issue of 2.448 Cr equity shares aggregating up to Rs 616.9 Cr and an offer for sale of 3.672cr equity shares aggregating up to Rs 925.3 Cr (based on subscription at the upper band of the IPO).


***Note: This is a NSE Chart

 

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