Reliance Nippon Life Asset Management Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 30,600,000 (50%) | — | ₹77,112 Cr |
| NII (HNI) | — | 9,180,000 (15%) | — | ₹23,134 Cr |
| Retail | — | 21,420,000 (35%) | — | ₹53,978 Cr |
| Σ Total | — | 61,200,000 (100%) | — | ₹1,542,240 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 59 | ₹14,868 |
| Retail (Max) | 13 | 767 | ₹193,284 |
| S-HNI (Min) | 14 | 826 | ₹208,152 |
| B-HNI (Min) | 67 | 3,953 | ₹996,156 |
Financial Statements Amount in Crore
| Metric | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 |
|---|---|---|---|
| Revenue | 1,400 | 1,271 | 930 |
| Profit After Tax | 406 | 390 | 350 |
| Total Assets | 2,020 | 1,886 | 1,663 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 1 Setting up new branches and relocating certain existing branches – 383.06
- 2 Upgrading the IT system – 406.45
- 3 Advertising, marketing and brand building activities – 720.92
- 4 Lending to our Subsidiary (Reliance AIF) for investment of continuing interest in the new AIF schemes managed by Reliance AIF – 1,250.00
- 5 Investing towards our continuing interest in new mutual fund schemes managed by us – 1,000.00
- 6 Funding inorganic growth and strategic initiatives – 1,650.00
- 7 General corporate purposes – 440.67
Company Overview
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:
1. Mutual funds (including ETFs);
2. Managed accounts, including portfolio management services, alternative investment funds (AIFs) and pension funds; and
3. 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:
1. Third largest asset management company in India backed by strong promoters.
2. Strong presence across India
3. Well-diversified product suite across mutual funds and ETFs, managed accounts and offshore funds and advisory mandates.