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Monday, October 23, 2017

Reliance Nippon Life AMC IPO opens on October 25

Reliance Nippon Life Asset Management Ltd is coming up with an IPO of equity shares which will hit the streets soon

Reliance Nippon Life is asset management company having 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.

The objects for which the Company intends to use the Net Proceeds are as follows:
1. Setting up new branches and relocating certain existing branches;
2. Upgrading the IT system;
3. Advertising, marketing and brand building activities;
4. Lending to our Subsidiary (Reliance AIF) for investment as continuing interest in the new AIF schemes
managed by Reliance AIF;
5. Investing towards our continuing interest in new mutual fund schemes managed by us;
6. Funding inorganic growth and other strategic initiatives; and
7. Meeting expenses towards general corporate purposes

The IPO would remain open between Oct 25 and Oct 27, 2017. Stay tuned for more on Reliance Nippon Life IPO
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