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:
- Mutual funds (including ETFs);
- Managed accounts, including portfolio management services, alternative investment funds (AIFs) and pension funds; and
- 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: - 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
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹247 to ₹252 per equity share |
| Market Lot | 59 Shares |
| Min Order Quantity | 59 Shares |
| Listing At | BSE, NSE |
| BSE Script Code | 540767 |
| NSE Symbol | RNAM |
| ISIN | INE298J01013 |
| Issue Size | Aggregating up to ₹1,542.24 Cr |
| Fresh Issue | Aggregating up to ₹[.] Cr |
| Offer for Sale | Aggregating up to ₹[.] Cr |
Reliance Nippon Life IPO Tentative Timetable
| PARTICULAR | DATE |
| IPO Open Date | 25-Oct-17 |
| IPO Close Date | 27-Oct-17 |
| Basis of Allotment Date | 1-Nov-17 |
| IPO Listing Date | 6-Nov-17 |
Reliance Nippon Life IPO Lot Size
| Application | Lots | Shares | Amount (Cut-off) |
| Minimum | 1 | 59 | ₹14,868 |
| Maximum | 13 | 767 | ₹193,284 |
IPO Allotment Status
Please Click Hare To Check IPO Allotment Status For Reliance Nippon Life Asset Management Ltd
Company Promoters:
The Promoters of the Company are:
- Reliance Capital Limited; and
- Nippon Life Insurance Company
Company Financials:
| PARTICULAR | 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 |
Objects of the Issue:
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:
- Setting up new branches and relocating certain existing branches;
- Upgrading the IT system;
- Advertising, marketing and brand building activities;
- Lending to our Subsidiary (Reliance AIF) for investment as continuing interest in the new AIF schemes
managed by Reliance AIF; - Investing towards our continuing interest in new mutual fund schemes managed by us;
- Funding inorganic growth and other strategic initiatives; and
- Meeting expenses towards general corporate purposes.
Registrar & Company Details
| Company Contact Information | Reliance Nippon Life IPO Registrar |
| 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 | KFintech Private Limited Selenium Building, Tower-B, Plot No 31 & 32, Financial District,Nanakramguda, Serilingampally, Rangareddi, Telangana India – 500 032. Phone: 1-800-3454001 Email: reliancenippon.ipo@karvy.com Website: https://karisma.kfintech.com/ |
