Reliance Nippon Life IPO to open on 25 October
Reliance Nippon Life Asset Management Ltd, India’s third-largest mutual fund manager, on Thursday said it will launch its Rs1,542 crore initial public offering (IPO) on 25 October.
This will be the first IPO by an Indian mutual fund manager.
The asset management company has set a price range of Rs247-252 per share for the IPO, which values it at Rs15,116-15,422 crore.
The IPO will see a total stake dilution of 10%. The public offering includes a fresh issue of Rs617 crore. See Page 3