The Anil Ambani-led Reliance group's asset management arm on Tuesday raised a bit over Rs 462 crore from anchor investors. |
Posted: October 27, 2017 |
Reliance Nippon life Asset administration’s Rs 1,542-crore initial public offering (IPO) has been oversubscribed 55.08 instances. The supply has got bids for 235.94 crore equity shares in opposition to the entire difficulty measurement of 4.2 crore shares (except for anchor portion), consistent with NSE information. The reserved category of qualified institutional bidders has oversubscribed 90.64 occasions while the reserved part of non-institutional investors has seen oversubscription of 132.26 occasions and retail 4.76 occasions. The problem acquired full subscription within minutes of opening on Wednesday. Reliance Nippon life is anticipated to raise Rs 1,511.64-1,542.24 crore through the difficulty,at a cost band of Rs 247-252 per share. Anil Ambani-led Reliance workforce's asset administration arm already raised a bit over Rs 462.67 crore from 24 anchor buyers on Tuesday, at Rs 252 per share. The preliminary public providing of up to 6.12 crore equity shares comprises a fresh problem of as much as 2.448 crore shares by way of the company and an offer on the market as much as 3.672 crore shares with the aid of the selling shareholders. The provide will constitute 10 % of the submit-supply paid-up equity cash share capital of the corporate. The net proceeds from its recent difficulty can be used for putting in place new branches and relocating certain current branches; upgrading the IT gadget;
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