Reliance Nippon Life ends at 12% premium against issue price

The stock listed at Rs 296, a 17% premium against its issue price of Rs 252 on the NSE. It was listed at Rs 294 on the BSE.

Reliance Nippon Life Asset Management (RNLAM) made a strong debut on the bourses by listing at a 17% premium against its issue price of Rs 252 on the National Stock Exchange (NSE). The stock listed at Rs 294 on the BSE (the Bombay Stock Exchange).

The stock ended at Rs 284 on the BSE and NSE after hitting a low of Rs 278 post its listing. A combined 16.03 million shares changed hands on the counter on the BSE and NSE so far.

The company's Rs 1,540 crore initial public offer (IPO) got a strong demand in all