Reliance Nippon Life AMC IPO – Schedule (Pg #396 of RHP)
24th Oct – Anchor List
25th Oct – Offer Opens
27th Oct – Offer Closes
01st Nov – Finalisation of Basis of Allotment
03rd Nov – Unblocking of ASBA
03rd Nov – Credit to Demat Accounts
06th Nov – Listing on NSE & BSE
Reliance Nippon Life AMC IPO – Issue Information (Final)
Issue Opens on: 25 October 2017
Issue Closes on: 27 October 2017
Issue Type: Book Built Issue IPO
Issue Size: 6,12,00,000 Equity Shares
Face Value: Rs 10 per Equity Share
Issue Price: Rs.247 – Rs.252 per Equity Share
Market Lot: 59 shares
Listing At: NSE, BSE
Equity Shares outstanding prior to the Issue = 58,75,20,000 Equity Shares
Fresh Issue of 2,44,80,000 Equity Shares @upper price band = Rs.616.90 Crores
Offer for Sale of 3,67,20,000 Equity Shares @upper price band = Rs.925.34 Crores
Equity Shares outstanding after the Issue = 61,20,00,000 Equity Shares
Category-wise Break up:.
Anchor – 1,83,60,000 Shares = 462.67Crs
QIB – 1,22,40,000 Shares = 308.45Crs
NII – 91,80,000 Shares = 231.34Crs
RII – 2,14,20,000 Shares = 539.78Crs (Lot size: 59 = 3,63,051 Forms)
Total Issue – 6,12,00,000 Equity Shares = 1542.24Crs.
Subscription required for 1X
RII = 3,63,051 Forms
NII = 231.34 Crs
Interest cost @6%p.a. for 7days = 28.997paise for 1X
Reliance Nippon Life AMC IPO – Financial Information (Basis of Valuation)
EPS for FY14-15 >>> Rs.6.28 (Page #114 of RHP)
EPS for FY15-16 >>> Rs.6.75 (Page #114 of RHP)
EPS for FY16-17 >>> Rs.6.85 (Page #114 of RHP)
EPS for Q117-18 >>> Rs.1.49 (Page #114 of RHP)
RoNW for FY14-15 >>> 21% (Page #115 of RHP)
RoNW for FY15-16 >>> 22% (Page #115 of RHP)
RoNW for FY16-17 >>> 23% (Page #115 of RHP)
RoNW for Q117-18 >>> 05% (Page #115 of RHP)
NAV as on June 30, 2017 was Rs.27.63 (Page #116 of RHP)
Peer Group (Page #93 of DRHP): NONE
Reliance Nippon Life AMC IPO
Market Estimates of oversubscription:
Category-wise:
1X QIB = 308.45Crs – assuming applications of 8KCrs. = 26X oversubscription
1X NII = 231.34Crs – assuming applications of 60KCrs. = 260X oversubscription
1X RII = 363,051 Forms – assuming 21L forms. = 5.78X oversubscription (applic-wise)
i.e. average 10.20 shares per form
Reliance Nippon Life AMC IPO
GMP 70 – 72
Kostak 700 – 725