Anil Ambani-led Reliance Nippon Life Asset Management has filed a draft prospectus with the markets regulators for an initial public offer as it looks to raise funds for acquisitions.
The company may mop up nearly Rs 2,000 crore at a valuation of Rs 20,000 crore, two people privy to the offer told BloombergQuint.
Reliance Nippon will offload 61.2 equity shares at a face value of Rs 10 apiece, according to the draft red herring prospectus submitted to the Securities Exchange Board of India. The company will issue 24.48 million fresh shares, while the rest will be an offer for sale by existing shareholders. The company will offload 10 percent of the post-offer paid-up equity capital in the IPO.
