Introduction : Reliance Nippon Life Asset Management Ltd (RNLAM) incorporated in 1995 and promoted by Reliance Capital Limited (RCL), is a Mumbai based Asset Management Company (AMC). Nippon Life Insurance Company, one of the leading private life insurers in Japan is the co-promoter of the RNLAM. Nippon Life offers a wide range of financial products, individual and group life and annuity policies. RNLAM is involved in managing mutual funds (including ETFs), managed accounts including (PMS, AIFs and Pension Funds) and offshore funds. It is ranked the 3rd largest AMC in terms of mutual fund quarterly average AUM (QAAUM) with a market share of 11.4% and total AUM of INR3.6 tn as of June 2017. For FY16, it was ranked the 2nd most profitable AMC in India. For managed accounts business, it provides PMS to HNIs and institutional investors including EPFO and Coal Mines Provident Fund Organization (CMPFO). Its Subsidiary, Reliance AIF Management Company Ltd manages 2 AIFs which are privately pooled investment vehicles registered with SEBI. Further Reliance Capital Pension Fund Limited, one of its group companies received a certificate of commencement of business as a pension fund manager from PFRDA in 2009 and manages pension assets under the National Pension System. As of June 30, 2017, it manages total AUM of INR1.5tn as part of its managed accounts business. It manages offshore funds through its subsidiaries in Singapore and Mauritius and has a representative office in Dubai to cater to investors across Asia, Middle East, UK, US, and Europe. It also acts as the advisor for India focused equity and fixed income funds in Japan and South Korea.
View: We like RNLAM as it is the largest AMC with highly diversified product offerings and strong distribution reach. RNLAM’s AUM has grown at CAGR of 22% in FY13-17 and has delivered strong Revenue/EBITDA/PAT growth of 21%/ 28%/ 15% over the same period. Other key strengths of the company are 1) leadership positioning in AMC business with strong credentials to drive growth, 2) strong distribution reach, 3) diversified product mix with strong investment track record, and 4) Strong ROE/ ROCEs of 22%/ 25%. At the upper price band, the issue is priced at PBV of 8.1x for FY17 and 4.2% of AUM (market cap/AUM) which we believe is attractive in context of positives mentioned above. Hence we recommend SUBSCRIBE for long term investment.
My aim only to make profits from ipo...sometimes high sometimes low sometimes safeguard of capital......if funds available , dont skip ipo''s if we can make safe profits........
Apply with full force again saying... & sell in grey market ha ha.....book safe profits u can !!
176. Eagleye| Link| Bookmark|
October 17, 2017 6:24:35 PM
IPO Guru (6600+ Posts, 22000+ Likes)
List of IPOs IN THE PIPELINE (Status as on 13th October 2017)
A) DRHP Filed – SEBI Approval *Awaited*:
1) Reliance General Ins. Co. >>> DRHP date 09-Oct-17 2) Amber Enterprises India >>> DRHP date 29-Sep-17 3) Seven Islands Shipping >>> DRHP date 29-Sep-17 4) Acme Solar Holdings >>> DRHP date 28-Sep-17 5) Hindustan Aeronautics >>> DRHP date 28-Sep-17 6) CMS Info Systems >>> DRHP date 27-Sep-17 7) H.G.Infra Engineering >>> DRHP date 27-Sep-17 8) Karda Constructions >>> DRHP date 27-Sep-17 9) Newgen Software Technologies >>> DRHP date 27-Sep-17 10) Prince Pipes and Fittings >>> DRHP date 26-Sep-17 11) Apollo Micro Systems >>> DRHP date 23-Sep-17 12) Lemon Tree Hotels >>> DRHP date 19-Sep-17 13) Gandhar Oil Refinery (India) >>> DRHP date 29-Aug-17 14) Future Supply Chain Solutions >>> DRHP date 23-Aug-17 15) Barbeque-Nation Hospitality >>> DRHP date 14-Aug-17 16) Aster DM Healthcare >>> DRHP date 09-Aug-17 17) National Stock Exchange of India >>> DRHP date 28-Dec-16
B) SEBI Approval *Received* (within the past 5 months):
1) HDFC Standard Life Insurance Co. >>> DRHP date 18-Aug-17 2) Mahindra Logistics >>> DRHP date 03-Aug-17 3) Astron Paper & Board Mill >>> DRHP date 20-Jun-17 4) The New India Assurance Co. >>> DRHP date 08-Aug-17 5) Khadim India >>> DRHP date 30-Jun-17 6) Shalby Hospitals >>> DRHP date 19-May-17 7) Nakshatra World >>> DRHP date 08-Mar-17
C) SEBI Approval Received (more than 5 months ago):
8) Genesis Colors >>> DRHP date 28-Sep-16 9) GR Infraprojects >>> DRHP date 29-Sep-16 10) Continental Warehousing Corp. >>> DRHP date 30-Sep-16
Beggar is still asking for money. 10000cr where is it gone. I am sure Nippon will ditch them as no one wants to be associated with ADAG group. When market is all time high he come with an ipo. I am sure retailers will not again fall for this trap. No analyst has given a subscribe recommendation. Ignore at all cost.
I believe try to AVOID for the IPO. I believe that the market will give opportunities to buy the stock at lower valuations and that the current price offers NO MARGIN OF SAFETY.
@ sagar hirani amc ok but even that doesn''t sound no less scary. this group has tried hands at all existing and non existing businesses. power, infra, movies, telecom and what not.only to scale newer peaks of failures making the investor wealth go downhill.