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Reliance Nippon Life Asset Management Limited, receives SEBI’s consent for its estimated Rs.2,000 crore IPO.
According to the latest update available on the SEBI’s website, it has issued its observations on the proposed IPO of Reliance Nippon on October 5.
Further, as per the draft papers filed with SEBI, the public issue will comprise of fresh issue of 2.45 crore shares, and offer for sale of 1.12 crore shares by Reliance Capital and 2.55 crore shares by Nippon Life Insurance Company.
The size of IPO will be approx 10% of the post issue paid up capital of the company.
