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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.
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:
1. Third largest asset management company in India backed by strong promoters.
2. Strong presence across India
3. Well-diversified product suite across mutual funds and ETFs, managed accounts and offshore funds and advisory mandates.
| 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 | |
The Offer consists of the Fresh Issue and the Offer for Sale. Company will not receive any proceeds from the Offer for Sale.
The objects for which the Company intends to use the Net Proceeds are as follows:
1. Setting up new branches and relocating certain existing branches;
2. Upgrading the IT system;
3. Advertising, marketing and brand building activities;
4. Lending to our Subsidiary (Reliance AIF) for investment as continuing interest in the new AIF schemes
managed by Reliance AIF;
5. Investing towards our continuing interest in new mutual fund schemes managed by us;
6. Funding inorganic growth and other strategic initiatives; and
7. Meeting expenses towards general corporate purposes.
| IPO Date | Oct 25, 2017 to Oct 27, 2017 |
| Listing Date | Monday, November 6, 2017 |
| Face Value | ₹10 per share |
| Price | ₹247 to ₹252 per share |
| Lot Size | 59 Shares |
| Issue Size | 61,200,000 shares of ₹10 (aggregating up to ₹1,542.24 Cr) |
| Fresh Issue | 24,480,000 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Offer for Sale | 36,720,000 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Company Promoters | The Promoters of the Company are: 1. Reliance Capital Limited; and |
Reliance Nippon Life IPO opens on Oct 25, 2017, and closes on Oct 27, 2017. The Reliance Nippon Life IPO bid date is from Oct 25, 2017 10.00 A.M. to Oct 27, 2017 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Oct 25, 2017 |
| Closing Date | Oct 27, 2017 |
| Basis of Allotment | Nov 1, 2017 |
| Initiation of Refunds | Nov 3, 2017 |
| Credit of Shares to Demat | Nov 3, 2017 |
| Listing Date | Nov 6, 2017 |
The Reliance Nippon Life IPO lot size is 59 shares. A retail-individual investor can apply for up to 13 lots (767 shares or ₹193,284).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 59 | ₹14,868 |
| Retail (Max) | 13 | 767 | ₹193,284 |
Date: 24th Oct 2017
Reliance Nippon Life Asset Management Limited IPO raises Rs 462.67 Cr from anchor investors which opened and closed today on October 24, 2017. The anchor book received overwhelming response for the investors as it was subscribed 30+ times. This is one of the largest anchor responses any company has received for its IPO in the recent past. Earlier sources has confirmed demand of 15,000+ Cr received from over 50 investors against anchor book size of Rs 462.67 Cr - allocation made to 24 investors.
Reliance Nippon Life Asset Management Limited attoted 18,360,000 shares to 24 anchor investors at the higher end of the IPO price band of Rs 252 per share.
The anchor issue was subscribed by following set of high quality and respectable names like:-
| Issuer Company | Issue Size | No. of times subscribed on Day 1 |
| Reliance Nippon Life Asset Management | 1,542 | 4.64 |
| AU Small Finance Bank | 1,913 | 0.18 |
| Avenue Supermarts | 1,870 | 1.35 |
| BSE | 1,243 | 0.50 |
| Cochin Shipyard | 1,443 | 0.92 |
| Godrej Agrovet | 1,157 | 0.52 |
| HUDCO | 1,210 | 0.63 |
| ICICI Lombard | 5,615 | 0.27 |
| SBI Life Insurance | 8,220 | 0.09 |
Investment in fully priced issue may be considered for medium to long term as it is a first mover and likely to create fancy post listing. Read detail review...
The Reliance Nippon Life IPO is subscribed 81.54 times on Oct 27, 2017 11:30:00 PM. The public issue subscribed 5.65 times in the retail category, 118.40 times in the QIB category, and 209.44 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 118.40 |
| NII | 209.44 |
| Retail | 5.65 |
| Total | 81.54 |
| Listing Date | Monday, November 6, 2017 |
| BSE Script Code | 540767 |
| NSE Symbol | NAM-INDIA |
| Listing In | B Group of Securities |
| ISIN | INE298J01013 |
| IPO Price | ₹252 per share |
| Face Value | ₹10 per share |
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Reliance Nippon Life Asset Management Ltd
Reliance Centre, 7th Floor,
South Wing, Off Western Express Highway,
Santacruz (East), Mumbai 400 055,
Phone: + 91 22 3303 1000
Email: deepak.mukhija@relianceada.com
Website: https://www.reliancemutual.com/
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: reliancenippon.ipo@karvy.com
Website: https://karisma.kfintech.com/
| Review By | Subscribe | Neutral | Avoid |
|---|---|---|---|
| Brokers | 2 | 0 | 0 |
| Members | 0 | 0 | 0 |
IPO Broker Recommendations
Lead Manager Reports
Reliance Nippon Life IPO is a main-board IPO of 61,200,000 equity shares of the face value of ₹10 aggregating up to ₹1,542.24 Crores. The issue is priced at ₹247 to ₹252 per share. The minimum order quantity is 59 Shares.
The IPO opens on Oct 25, 2017, and closes on Oct 27, 2017.
KFin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Reliance Nippon Life IPO opens on Oct 25, 2017 and closes on Oct 27, 2017.
Reliance Nippon Life IPO lot size is 59 Shares and the minimum order quantity is .
You can apply in Reliance Nippon Life IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Reliance Nippon Life IPO will be done on Nov 1, 2017, and the allotted shares will be credited to your demat account by Nov 3, 2017. Check the Reliance Nippon Life IPO allotment status.
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