Reliance Nippon Life Asset Management Ltd IPO

Incorporated in 1995, Reliance Nippon Life Asset Management Ltd is Mumbai, India based asset management company. Company has market share of over 11.4% in mutual funds offerings in India. Reliance Nippon Life is ranked the 2nd most profitable asset management company in India.

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Issues open :

Oct 25 2017-Oct 27 2017

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Market Lot :


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Issue Price :

247- 252

Reliance Nippon Life Asset Management Ltd business lines:

  • Company is promoted by Reliance Capital Limited. Reliance Capital is an RBI registered non-banking finance company with business interests including in asset management and mutual funds, life, health and general insurance, commercial and home finance, stock broking, wealth management services, distribution of financial products, asset reconstruction and proprietary investments. Reliance Capital Limited is a part of Reliance Group led by Mr. Anil D. Ambani.
  • Nippon Life Insurance Company, one of the leading private life insurers in Japan is the co-promoter of the company. Nippon Life offers a wide range of financial products, including individual and group life and annuity policies. Company has assets of over USD 577.00 billion.
  • Reliance Nippon Life is involved in managing: 1. Mutual funds (including ETFs); 2. Managed accounts, including portfolio management services, alternative investment funds (AIFs) and pension funds; and 3. Offshore funds and advisory mandates.
  • Company manages 55 open-ended mutual fund schemes including 16 ETFs and 174 closed ended schemes. Company has a network of 171 branches and over 58,000 distributors including banks, financial institutions, national distributors and independent financial advisors as of June 30, 2017.

Company Strengths:

  • Third largest asset management company in India backed by strong promoters.
  • Strong presence across India
  • Well-diversified product suite across mutual funds and ETFs, managed accounts and offshore funds and advisory mandates.

Company Promoters:

  • Reliance Capital Limited; and
  • Nippon Life Insurance Company

Issue Detail:

  • Issue Open: Oct 25 2017
  • Issue Closes on: Oct 27 2017
  • Issue Type: Book Built Issue IPO
  • Issue Size: [.] Equity Shares of Rs 10 aggregating up to Rs 1,542.24 Cr
  • Face Value: Rs 10 Per Equity Share
  • Issue Price:247 - 252 Per Equity Share
  • Market Lot: 59 Shares
  • Minimum Order Quantity: 59 Shares
  • Listing At: BSE, NSE

Tentative timetable in respect of the Offer:

  • Bid/Offer Opens On: Oct 25 2017
  • Bid/Offer Closes On: Oct 27 2017
  • Finalisation of Basis of Allotment: On or about Nov 01 2017
  • Initiation of refunds: On or about Nov 03 2017
  • Credit of Equity Shares to demat accounts:On or about Nov 03 2017
  • Commencement of trading of the Equity Shares on the Stock Exchanges: On or about Nov 06 2017