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Reliance Nippon Life IPO is a book build issue of ₹1,542.24 crores. The issue is a combination of fresh issue of 2.45 crore shares aggregating to ₹616.90 crores and offer for sale of 3.67 crore shares aggregating to ₹925.34 crores.
Reliance Nippon Life IPO bidding started from Oct 25, 2017 and ended on Oct 27, 2017. The allotment for Reliance Nippon Life IPO was finalized on Nov 1, 2017. The shares got listed on BSE, NSE on Nov 6, 2017.
Reliance Nippon Life IPO price band is set at ₹252.00 per share . The lot size for an application is 59. The minimum amount of investment required by an retail is ₹14,573 (59 shares). The lot size investment for sNII is 14 lots (826 shares), amounting to ₹2,08,152, and for bNII, it is 68 lots (4,012 shares), amounting to ₹10,11,024.
Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of 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 |
| Issue Price Band | ₹247 to ₹252 per share |
| Issue Price Final | ₹252 per share |
| Lot Size | 59 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 6,12,00,000 shares (aggregating up to ₹1,542.24 Cr) |
| Fresh Issue | 2,44,80,000 shares (aggregating up to ₹616.90 Cr) |
| Offer for Sale | 3,67,20,000 shares of ₹10 (aggregating up to ₹925.34 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 58,75,20,000 shares |
| Share Holding Post Issue | 61,20,00,000 shares |
Reliance Nippon Life IPO offers total 6,12,00,000 shares. Out of which 3,06,00,000 (50.00%) allocated to QIB, 1,22,40,000 (20.00%) allocated to QIB, 91,80,000 (15.00%) allocated to NII, 2,14,20,000 (35.00%) allocated to RII and 1,83,60,000 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 3,06,00,000 (50.00%) | NA |
| − Anchor Investor Shares Offered | 1,83,60,000 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 1,22,40,000 (20.00%) | NA |
| NII (HNI) Shares Offered | 91,80,000 (15.00%) | NA |
| Retail Shares Offered | 2,14,20,000 (35.00%) | 3,63,050 |
| Total Shares Offered | 6,12,00,000 (100.00%) |
Reliance Nippon Life IPO opens on October 25, 2017, and closes on October 27, 2017.
| IPO Open Date | Wed, Oct 25, 2017 |
| IPO Close Date | Fri, Oct 27, 2017 |
| Tentative Allotment | Wed, Nov 1, 2017 |
| Initiation of Refunds | Fri, Nov 3, 2017 |
| Credit of Shares to Demat | Fri, Nov 3, 2017 |
| Tentative Listing Date | Mon, Nov 6, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Oct 27, 2017 |
Investors can bid for a minimum of 59 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 59 | ₹14,868 |
| Retail (Max) | 13 | 767 | ₹1,93,284 |
| S-HNI (Min) | 14 | 826 | ₹2,08,152 |
| S-HNI (Max) | 67 | 3,953 | ₹9,96,156 |
| B-HNI (Min) | 68 | 4,012 | ₹10,11,024 |
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 Company Reliance Nippon Life IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Setting up new branches and relocating certain existing branches | 383.06 |
| 2 | Upgrading the IT system | 406.45 |
| 3 | Advertising, marketing and brand building activities | 720.92 |
| 4 | Lending to our Subsidiary (Reliance AIF) for investment of continuing interest in the new AIF schemes managed by Reliance AIF | 1,250.00 |
| 5 | Investing towards our continuing interest in new mutual fund schemes managed by us | 1,000.00 |
| 6 | Funding inorganic growth and strategic initiatives | 1,650.00 |
| 7 | General corporate purposes | 440.67 |
[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...
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 |
| BSE Listing Group | B |
Reliance Nippon Life Asset Management Ltd.
Reliance Centre, 7th Floor,
South Wing, Off Western Express Highway,
Santacruz (East), Mumbai 400 055,
Mumbai, Maharashtra
Phone: + 91 22 3303 1000
Email: deepak.mukhija@relianceada.com
Website: https://www.reliancemutual.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: reliancenippon.ipo@karvy.com
Website: https://ipostatus.kfintech.com/
Lead Manager Reports
Reliance Nippon Life IPO is a main-board IPO of 6,12,00,000 equity shares of the face value of ₹10 aggregating up to ₹1,542.24 Crores. The issue is priced at ₹252 per share. The minimum order quantity is 59.
The IPO opens on October 25, 2017, and closes on October 27, 2017.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Reliance Nippon Life IPO using UPI as a payment gateway. Zerodha customers can apply in Reliance Nippon Life IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Reliance Nippon Life IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Reliance Nippon Life IPO opens on October 25, 2017 and closes on October 27, 2017.
Reliance Nippon Life IPO lot size is 59, and the minimum amount required for application is ₹14,868.
You can apply in Reliance Nippon Life IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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.
The Reliance Nippon Life IPO listing date is on Monday, November 6, 2017.
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