Reliance Nippon Life AMC plans IPO in FY18; eyes valuation of Rs 20,000 cr

RNLAM, which manages assets worth nearly Rs 3.6 lakh cr, had registered a profit of Rs 581 cr

Reliance Nippon Life Asset Management (RNLAM), the asset management arm of Anil Ambani-promoted Reliance Capital, plans to come up with an initial public offering (IPO) — the first by a major asset manager in the country — before March 2018.

Promoters Reliance Capital and Japan’s Nippon Life could tender their shares in the offering. Sources said the asset manager was eyeing valuations of around Rs 20,000 crore. According to industry players, an asset manager is valued at 5 per cent of its assets or 30 times its profit.

For the financial year 2016-17, RNLAM, which manages assets worth nearly Rs