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Reliance Nippon Life Asset Management Ltd IPO

Add to Calendar 2017-10-25 12:00 AM 2017-10-27 12:00 AM Asia/Kolkata Reliance Nippon Life Asset Management Ltd IPO Reliance Nippon Life Asset Management Ltd India

Introduction: Reliance Nippon Life Asset Management Ltd is a asset management company controlled from Mumbai. Reliance Nippon holds around 11% of the mutual fund offering in India. The healthy margins have made it one of the best profitable companies in India. Company manages 55 open-ended mutual fund schemes including 16 ETFs and 174 closed ended schemes

Date of Establishment: Company was formed in the year 1995. 

Product & Service Offering: Reliance nippon manages

     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.

Customer Segment: The company manages its retail customers through its network of 170+ branches and 58,000 distributors  

Promoters of Reliance Nippon: 

     1. Reliance Capital Limited; and
     2. Nippon Life Insurance Company

Objects of the Issue: 

The offer consists of the fresh Issue and the Offer for Sale. Company will not receive any proceeds from the Offer for Sale.

The Net Proceeds would be utilized for :

  1. Setting up new branches

  2. Modernization of IT systems

  3. Marketing & Branding

  4. Lending to its subsidiary

  5. Funding inorganic growth and other strategic initiatives; and

  6. Meeting expenses towards general corporate purposes. 

Company Financials:

Summary of financial Information (Consolidated)
Particulars For the year/period ended (in Rs. million)
  31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 20,198.10 18,857.91 16,629.97 16,812.08 15,087.00
Total Revenue 14,004.38 12,710.70 9,301.15 7,840.26 7,126.74
Profit After Tax 4,055.70 3,901.24 3,495.94 3,023.01 1,989.60

 

Issue Detail

  • Issue Open: Oct 25, 2017
  • Issue Close: Oct 27, 2017
  • Issue Type: Book Built Issue IPO
  • Face Value: Rs 10 Per Equity Share
  • Price Band: Rs 247 - Rs 252 Per Equity Share
  • Bid Lot:59 Shares
  • Minimum Order Quantity:59 Shares
  • Listing At: BSE, NSE
  • Issue Size: • Rs 1,542.24 Cr

Current Bidding Status

Number of Times Subscribed (BSE + NSE)
As on Date & Time QIB NII RII Employee Others Total
Shares Offered / Reserved 12,240,000 9,180,000 21,420,000 - - 42,840,000
Shares Offered / Reserved 0 520,800 520,800 - 57,600 1,099,200
Day 2 - Oct 25, 2017IST 6.1300 11.3800 0.9000 - - 4.6400
Day 3 - Oct 26, 2017IST 9.8000 16.1600 2.3800 - - 7.4500
Day 4 - Nov 27, 2017IST 118.4000 209.4400 5.6500 - - 81.5400
Day 5 - Jan 29, 2018IST 0 354,000 170,400 - - 524,400
Day 6 - Jan 30, 2018IST 0 541,200 518,400 - - 1,059,600
Day 7 - Jan 31, 2018IST 0 602,400 1,312,800 - - 1,915,200

Listing Day Trading Information

- BSE NSE
Issue Price Rs 252.00 Rs 252.00
Open Rs 294.00 Rs 295.90
Low Rs 278.00 Rs 278.00
High Rs 298.70 Rs 299.00
Last Trade Rs 284.00 Rs 284.40
Volume 6,473,540 43,029,311

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