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.
Sri Lankan Navy arrests five TN fishermen
The fishing trawlers had been seized by the Sri Lanka Navy for poaching in the Sri Lankan territorial waters. It was handed over to Kankesanthurai police for legal action.
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.
Four reasons the U.S. won't be at next year's World Cup
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.
Georgia father faces murder charges in infant's death
During this first appearance in court McNabb kept his head lowered and did not speak, instead motioning yes or no with his head. Sobbing, Bell explains that she had been up with the baby most of the night and had fallen asleep on the couch at 5 a.m.