News From Press Reliance Nippon Life AMC IPO subscribed 10 times; issue closes today

Reliance Nippon Life AMC IPO subscribed 10 times; issue closes today

Source: Economic Times Oct 28, 2017

The Rs 1,540-crore initial public offering (IPO) by Reliance Nippon Life Asset Management (RNAM), which got fully subscribed on the first day itself, continued to see huge investor response on the last day of the bidding process on Friday.

By 5 pm, the issue was subscribed 81.28 times, as investors bade for 3,48,23,88,919 shares compared with 4,28,40,000 shares on the block. Retail individual investor (RII) quota was subscribed around 5.16 times, qualified institutional buyer.

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