Reliance Nippon Life AMC is likely to file Draft Red Herring Prospectus or DRHP for its initial public offer with the Securities and Exchange Board of India today, according to market sources.
Investment banking firms CLSA and JM Financial are likely to be the bankers to the issue.
As stated at the press conference on June 8 for the IPO, the Anil Ambani led-Reliance Capital's Reliance Nippon Life AMC is initially diluting 10 percent stake which may comprise fresh issue of 2.44 crore shares, sources said.