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Thursday, 26 October 2017

The IPO by Reliance Nippon Life Asset management subscribed 4.85 times on Second day

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The IPO of Reliance Nippon Life Asset management (RNAM), having been fully subscribed on first day of the bidding process, carried on to see investor demand, as the issue got 4.85 times subscription by on Thursday mid-noon hours. Starting 12.30 pm, the IPO got bids for 211,399,301 shares against the total issue size of 42,840,000 shares, as per Exchange data.

The price band of the issue was fixed Rs 247-252 and the minimum bid lot at 59 equity shares. The quota for all investor divisions including retail individual investor’s was fully subscribed.

Reliance Nippon has priced its shares in a band of Rs. 247-252 per share. The offer will close on 27 Oct. The Rs. 1,542 crore IPO consists of a fresh issue of shares worth Rs. 617 cr. 


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