Money Maker Research & Investment Advisor: Reliance Nippon AMC to be listed on NSE on Nov 6

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Friday, 3 November 2017

Reliance Nippon AMC to be listed on NSE on Nov 6

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The shares of Reliance Nippon AMC will be listed on the National Stock Exchange (NSE) on Monday, Nov 6. The listing ceremony at NSE will be attended by the Reliance group chairman Anil Ambani; Anmol Ambani, ED, Reliance Capital; among other company dignitaries of the company.

The initial offer sale aimed at raising an estimated Rs. 1,542.24 crore, received bids for 3,493 mln shares against the total issue size of 4,28,40,000.

The IPO had opened for subscription from Oct 25- 27, 2017 in a price band of Rs. 247- 252, which was oversubscribed by 81.54 times at the close of the bidding.

The Rs 1,540 crore IPO saw healthy demand in all three investor categories.  The institutional portion was oversubscribed 118 times; HNI segment was oversubscribed by 209.44 times and retail investor portion by five times.

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