Reliance Nippon Life Asset Management’s Rs 1,542-crore initial public offering (IPO), the first by a domestic mutual fund, will remain open for subscription from October 25-27. The price band for the maiden offer is Rs 247-252 per share. Promoters Nippon Life and Reliance Capital are offering their shares worth up to Rs 643 crore and Rs 282 crore, respectively. Reliance Nippon AMC will also issue fresh shares worth Rs 617 crore. At the top end of the price band, Reliance Nippon, which manages assets worth over Rs 3.8 lakh crore, will be valued at Rs 15,420 crore.
Reliance AMC's Rs 1,542-cr IPO to begin on Oct 25
The price band for the maiden offer is Rs 247-252 per share
BS Reporter Last Updated at October 13, 2017 00:32 IST