Reliance Nippon Life Asset Management IPO
Reliance Nippon Life Asset Management IPO — date, price band, lot size & details 2017
Reliance Nippon Life Asset Management listed on 6 Nov 2017 at ₹295.9, 17.4% above the ₹252 issue price.
Reliance Nippon Life Asset Management is a Mumbai based asset manager with over 11.4% of India's mutual fund market, promoted by Reliance Capital and Nippon Life. Its total income was Rs 1,400.44 crore in FY2017.
Stock price
Reliance Nippon Life Asset Management is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 25 Oct 2017
- Close 27 Oct 2017
- Allotment 01 Nov 2017
- Refund/credit 03 Nov 2017
- Listing 06 Nov 2017
Issue summary
The terms of the offer, as filed.
| IPO Dates | 25 to 27 Oct, 2017 |
|---|---|
| Price Band | ₹247 – ₹252 |
| Face Value | ₹10 |
| Lot Size | 59 Shares |
| Issue Size | ₹1542.24 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,868 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 59 shares at the ₹252 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 59 | ₹14,868 |
| Retail (max) | 13 | 767 | ₹1,93,284 |
| S-HNI (min) | 14 | 826 | ₹2,08,152 |
| S-HNI (max) | 67 | 3,953 | ₹9,96,156 |
| B-HNI (min) | 68 | 4,012 | ₹10,11,024 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01It had over 11.4% of the mutual fund market in India.
- 02Total income rose from Rs 930.12 crore in FY2015 to Rs 1,400.44 crore in FY2017.
- 03Profit after tax rose from Rs 349.59 crore in FY2015 to Rs 405.57 crore in FY2017.
- 04It had no borrowing and net worth of Rs 1,653.47 crore on 30 June 2017.
Risks · 5
- 01Fees depend on assets under management, which fall when markets fall; profit was Rs 83.44 crore in the June 2017 quarter.
- 02SEBI can change the fees funds can charge, which squeezes AMC margins; profit grew slowly from Rs 390.12 crore in FY2016.
- 03Its brand is tied to its promoter group, so trouble there could affect it; net worth fell to Rs 1,653.47 crore in June 2017.
- 04Rs 925.34 crore of the Rs 1,542.24 crore issue went to selling shareholders.
- 05Promoters held 95.57% before the issue and 85.75% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Reliance Nippon Life Asset Management offer document.
| Metric | 30 Jun 2017 | 31 Mar 2017 | 31 Mar 2016 | 31 Mar 2015 |
|---|---|---|---|---|
| Assets | 1,891.17 | 2,019.81 | 1,885.79 | 1,663.00 |
| Total Income | 378.15 | 1,400.44 | 1,271.07 | 930.12 |
| Profit After Tax | 83.44 | 405.57 | 390.12 | 349.59 |
| NET Worth | 1,653.47 | 1,870.30 | 1,765.00 | 1,518.75 |
| Reserves and Surplus | 1,611.95 | 1,828.78 | 1,723.48 | 1,477.48 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹585.12 Cr of the issue is earmarked to named objects.
About the company
It had a market share of over 11.4% of mutual fund offerings in India and was ranked the second most profitable asset management company in India.
Reliance Capital is an RBI registered NBFC with interests across financial services.
The IPO was Rs 1,542.24 crore, with Rs 616.90 crore of fresh issue and Rs 925.34 crore of offer for sale, at Rs 252, the top of the Rs 247 to Rs 252 band. The fresh money was for branches, IT, brand building, and investments in its own funds and AIF arm.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Reliance Nippon Life Asset Management IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
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YES Bank Ltd
14 issues handledBest listing: CDSL (+67.8%). Weakest: New India Assurance (-6.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Reliance Nippon Life Asset Management?
The current Grey Market Premium is ₹42.5, or 17% over the issue price.
What is the Reliance Nippon Life Asset Management IPO price band?
₹247 to ₹252, on a face value of ₹10.
When is the allotment?
The basis of allotment is 1 November 2017, with listing on 6 November 2017.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
