Reliance MF files offer document for Rs 2,000-cr IPO

The IPO comes when domestic MFs are seeing healthy growth in investor flow and AUM

Reliance Nippon Life Asset Management (RNAM), asset management arm of the Anil Ambani-promoted Reliance Capital, filed documents on Friday with the Securities and Exchange Board of India (Sebi) for an Initial Public Offer of equity (IPO).

According to sources, the IPO size could be between Rs 1,800 and Rs 2,000 crore and would lead to 10 per cent dilution. The issue would comprise a new equity component and an Offer for Sale by both Reliance Capital and Nippon Life Insurance. The aim is to launch the IPO in this financial year.

RNAM will issue 24.5 million new shares, Nippon Life will offer