The issue will open on October 25 and close on October 27. Nippon Life's stake in the company will fall from 49% to 42.88% with the IPO. "It is a moment of pride and honour for us to at Reliance Nippon Life to be the first in the country to come out with an IPO of an asset management company", the company's ED and CEO Sundeep Sikka said. The IPO size would be around 10 per cent of the post issue paid-up capital of the company.
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Fans have the opportunity to RSVP for the listening party and movie screening starting on Friday, through Houston's website . The anniversary edition comes with previously released special features for select digital retailers.
The Anchor Investor Bidding will be held on October 24, 2017.
Bids can be made for minimum 59 equity shares and in multiples of 59 shares thereafter.
The initial public offering of up to 6.12 crore equity shares comprises a fresh issue of up to 2.448 crore shares by the company and an offer for sale up to 3.672 crore shares by the selling shareholders.
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Having a clearly defined identity also makes it much easier to figure out which players are going to fit best with your team. It appeared that this team was headed for a playoff until Panama's late victor to beat Costa Rica 2-1 sealed the USA's fate.
The fund house will use the money mobilised from the IPO to set up new branches, upgrade IT system, brand building activities and lending to their subsidiary Reliance AIF, it said.
It is involved in managing mutual funds (including ETFs); managed accounts, including portfolio management services, alternative investment funds (AIFs) and pension funds; and offshore funds and advisory mandates.
The Reliance Capital-promoted company saw its revenues and profit after tax (PAT) rising at compound annual growth rates of 18.2 per cent and 15 per cent, respectively, over FY13-17. Listing gains and returns by newly listed companies as also the positive sentiment in the broader market are among the reasons attributed to the trend.
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At the Tianjin Open , there were wins for Maria Sharapova and Sara Errani in her first WTA Tour match following a doping ban. "Venus is someone I've respected and admired.I've grown up watching her".