Reliance Nippon AMC IPO subscribed 81 times on last day

The price band for the IPO was Rs 247 to 252 per share. At the top-end of the price band, Reliance Nippon AMC was valued at Rs 15,422 crore

Country's first-ever mutual fund IPO by Reliance Nippon Asset Management Company (AMC) was lapped up by investors. The 43-million share offering saw 81 times more demand, with bids for 3,485 million shares, worth Rs 87,830 crore. The Rs 1,540-crore offering saw healthy demand in all three investor categories. The institutional portion of the IPO was subscribed 118 times, high net worth individual (HNI) segment was subscribed 209 times and retail investor portion was subscribed five times. The retail book was kept open till late as demand remained high, said investment bankers. The IPO saw over 1.5 million applications, one of