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Reliance Nippon Life IPO is a book built issue of Rs 1,542.24 crores. The issue is a combination of fresh issue of 2.45 crore shares and offer for sale of 3.67 crore shares.
Reliance Nippon Life IPO bidding started from October 25, 2017 and ended on October 27, 2017. The allotment for Reliance Nippon Life IPO was finalized on Wednesday, November 1, 2017. The shares got listed on BSE, NSE on November 6, 2017.
Reliance Nippon Life IPO price band is set at ₹247 to ₹252 per share. The minimum lot size for an application is 59 Shares. The minimum amount of investment required by retail investors is ₹14,868.
Axis Capital Limited, Clsa India Private Limited, Edelweiss Financial Services Ltd, Iifl Securities Ltd, Jm Financial Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd, SBI Capital Markets Limited and Yes Bank Limited are the book running lead managers of the Reliance Nippon Life IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Reliance Nippon Life IPO RHP for detailed information.
| IPO Date | October 25, 2017 to October 27, 2017 |
| Listing Date | November 6, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹247 to ₹252 per share |
| Lot Size | 59 Shares |
| Total Issue Size | 61,200,000 shares (aggregating up to ₹1,542.24 Cr) |
| Fresh Issue | 24,480,000 shares (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 |
| Share holding pre issue | 587,520,000 |
| Share holding post issue | 612,000,000 |
Reliance Nippon Life IPO offers 42,840,000 shares. 12,240,000 (28.57%) to QIB, 9,180,000 (21.43%) to NII, 21,420,000 (50.00%) to RII. 363,050 RIIs will receive minimum 59 shares and (sNII) and (bNII) will receive minimum 826 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 12,240,000 (28.57%) | NA |
| NII (HNI) Shares Offered | 9,180,000 (21.43%) | |
| Retail Shares Offered | 21,420,000 (50.00%) | 363,050 |
| Total Shares Offered | 42,840,000 (100%) |
Reliance Nippon Life IPO opens on October 25, 2017, and closes on October 27, 2017.
| IPO Open Date | Wednesday, October 25, 2017 |
| IPO Close Date | Friday, October 27, 2017 |
| Basis of Allotment | Wednesday, November 1, 2017 |
| Initiation of Refunds | Friday, November 3, 2017 |
| Credit of Shares to Demat | Friday, November 3, 2017 |
| Listing Date | Monday, November 6, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 27, 2017 |
Investors can bid for a minimum of 59 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 59 | ₹14,868 |
| Retail (Max) | 13 | 767 | ₹193,284 |
| Lot Size Calculator | |||
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.
[Dilip Davda] 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 October 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 |
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 |
| Listing Date | November 6, 2017 |
| BSE Script Code | 540767 |
| NSE Symbol | NAM-INDIA |
| ISIN | INE298J01013 |
| Final Issue Price | ₹252 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹252.00 |
| ₹294.00 |
| ₹278.00 |
| ₹298.70 |
| ₹284.00 |
| NSE |
|---|
| ₹252.00 |
| ₹295.90 |
| ₹278.00 |
| ₹299.00 |
| ₹284.40 |
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://kosmic.kfintech.com/ipostatus/
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 October 25, 2017, and closes on October 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 October 25, 2017 and closes on October 27, 2017.
Reliance Nippon Life IPO lot size is 59 Shares, and the minimum amount required is ₹14,868.
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, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Reliance Nippon Life IPO will be done on Wednesday, November 1, 2017, and the allotted shares will be credited to your demat account by Friday, November 3, 2017. Check the Reliance Nippon Life IPO allotment status.
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Axis bank. still my money is blocked. Who is point of contact.??