The Reliance Nippon Life IPO date has been confirmed to have started on October 25, 2017 and ended on October 27, 2017.
Reliance Nippon Life aims to raise Rs 1,542.24 crore through an IPO. Each share is priced at an interval of ₹247 to ₹252. To apply, you need a minimum of 59 shares. Retail investors are required to put in a minimum of ₹14,868.
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Bidding Dates
October 25-27
Price Range
₹247 to ₹252 per share
Face Value
₹10 per share
GMP
₹[.]
Reliance Nippon Life IPO GMP
The Reliance Nippon Life Limited IPO GMP is ₹[.].
IPO Overview
The Reliance Nippon Life IPO stands as a book-built offering, totaling Rs 1,542.24 crore. Consisting of 2.45 crore shares freshly issued, the offering also includes a public offering of 3.67 crore shares. Bidding commenced for the Reliance Nippon Life IPO on October 25, 2017, concluding on October 27, 2017. The allotment for the Reliance Nippon Life IPO was finalized on Wednesday, November 1, 2017. The BSE and NSE officially listed the shares on November 6, 2017. Investors can buy shares of Reliance Nippon Life’s IPO within the range of ₹247 to ₹252 each.
The firm administers 55 open-ended mutual fund schemes, 16 ETFs, and 174 closed-ended schemes. As of June 30, 2017, the company had 171 branches and approximately 58,000 distributors, including banks, financial institutions, national distributors, and independent financial advisors.
Company Strengths:
- Third largest asset management company in India backed by strong promoters.
- Strong presence across India
- Well-diversified product suite across mutual funds and ETFs, managed accounts and offshore funds and advisory mandates.
Reliance Nippon Life IPO Details
| 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 |
Reliance Nippon Life Company Financials
| 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 | |
Reliance Nippon Life IPO Timeline
| 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 |
Company Profile
Founded in 1995, Reliance Nippon Life Asset Management Ltd operates from Mumbai, India. The company holds a dominant position in India’s mutual funds sector, with a market share surpassing 11.4%. The second most lucrative asset management company in India is Reliance Nippon Life. Reliance Capital Limited promotes the company. Reliance Capital is an RBI-registered non-banking finance company with interests in asset management and mutual funds, life, health, and general insurance, commercial and home finance, stock broking, wealth management services, financial product distribution,
asset reconstruction, and proprietary investments. Reliance Capital Limited is a subsidiary of the Anil D. Ambani-led Reliance Group. The company’s co-promoter is Nippon Life Insurance Company, one of Japan’s top private life insurers. Nippon Life provides a diverse range of financial products, including individual and group life insurance and annuities. The company’s assets exceed USD 577.00 billion.
Reliance Nippon Life is involved in managing:
- Mutual funds (including ETFs);
- Managed accounts, including portfolio management services, alternative investment funds (AIFs) and pension funds
- Offshore funds and advisory mandates.
Registrar Info
| Name | Kfin Technologies Limited |
| Phone number | 04067162222, 04079611000 |
| Email ID | [email protected] |
| Website | kosmic.kfintech.com |
Contact Details
| Name | Reliance Nippon Life Asset Management Ltd |
| Phone number | + 91 22 3303 1000 |
| Email ID | [email protected] |
| Website | reliancemutual.com |
IPO Strengths
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
Reliance Nippon Life IPO FAQs
When Reliance Nippon Life IPO will open?
The Reliance Nippon Life IPO opens on October 25, 2017 and closes on October 27, 2017.
What is the lot size of Reliance Nippon Life IPO?
Reliance Nippon Life IPO lot size is 59 Shares, and the minimum amount required is ₹14,868.
When is Reliance Nippon Life IPO listing date?
The Reliance Nippon Life IPO listing date is on November 6, 2017.
