Reliance Nippon Life AMC

The range of 12,000-12,050 is a strong resistance zone for the Nifty, which should be taken out on a closing basis to negate the bearish trend.

After the recent share sales, the family's stake in the bank has shrunk to around 1 per cent, showed an analysis of exchange data

Reliance Equity Hybrid Fund's exposure to RCap's NCDs stood at Rs 34.6 crore (at face value), while Reliance Equity Savings Fund's exposure to the NCDs stood at Rs 95.7 crore

Reliance Capital, which is one of the promoters of the RNAM, is selling the stake to achieve the minimum public shareholding in RNAM

Govt has already appointed ICICI Securities as the advisor for the fourth tranche of CPSE ETF

The price band for the IPO is Rs 247-252 per share

Anil Ambani-led Reliance Group's asset management arm is expected to see a huge demand of over Rs 15,000 crore from anchor investors against the earmarked book size of Rs 462 crore for them under its forthcoming IPO, merchant banking sources said. The firm has fixed a price band of Rs 247-252 per equity share. At the upper end of the price band, the share sale would garner Rs 1,542.42 crore. It will be the first initial share sale by a major asset management company (AMC) in India though smaller rival UTI Mutual Fund's IPO plans have been in the works for a long time. It will also be the first initial public offer (IPO) from the Reliance Group after Reliance Power in 2008. Other listed firms of the group included Reliance Capital, Reliance Home Finance, RCOM, Reliance Infra and Reliance Naval & Engineering. According to merchant banking sources, Reliance Nippon Life Asset Management Company (RNAM) has received great response from investors for its initial share sale

Reliance Nippon Life Asset Management is the asset manager of Reliance Mutual Fund

Reliance Capital owns 51% of the asset management company