RE­LIANCE JIO SHADOW OVER TEL­COS’ TOWER GAINS

Business Standard - - THE SMART INVESTOR -

Re­liance Nip­pon Life As­set Man­age­ment’s ~1,542-crore ini­tial pub­lic of­fer­ing (IPO), the first by a do­mes­tic mu­tual fund, will re­main open for sub­scrip­tion from Oc­to­ber 25-27. The price band for the maiden of­fer is ~247252 per share. Pro­mot­ers Nip­pon Life and Re­liance Cap­i­tal are of­fer­ing their shares worth up to ~643 crore and ~282 crore, re­spec­tively. Re­liance Nip­pon AMC will also is­sue fresh shares worth ~617 crore. At the top end of the price band, Re­liance Nip­pon, which man­ages as­sets worth over ~3.8 lakh crore, will be val­ued at ~15,420 crore.

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