Reliance Nippon Life AMC has received a healthy response from investors on the very first day at the stock exchanges.
In fact, the share price of the fund house opened at Rs.295.90. NSE data shows that the share price of the company closed at 284.50 on Monday, up 12.89%. The Reliance Nippon Life AMC stock witnessed trading volume of Rs.647 crore on NSE. The share traded between the range of Rs.278 and Rs.299 through the day, shows the NSE data.
The IPO that concluded last week witnessed strong demand from all the four categories of investors.
In fact, a few fund houses and insurance companies have invested in its IPO. These institutional investors were HDFC MF, Aditya Birla Sun Life MF, SBI MF, UTI MF, DSP Blackrock MF, IDFC MF, ICICI Prudential Life and Bajaj Allianz Life Insurance.
As on June 30, the AMC manages a total AUM of Rs.3.60 lakh crore.