Saturday 23rd, September 2017
canara news

RNAM starts international roadshows with an anchor book of Rs 600 cr

Published On : 12 Sep 2017


New Delhi, (IANS) Reliance Nippon Asset Management Company (RNAM) has started international roadshows in different parts of Asia to attract investors for its upcoming initial public offering (IPO) with an "Anchor Book" size of Rs 600 crore.

According to banking sources associated with the IPO, RNAM -- which will dilute 10 per cent stake through the IPO -- started the roadshows in Japan, Hong Kong and Singapore on Monday.

Sources said that an "overwhelming response" from investors for RNAM IPO has been received at these roadshows.

The initial indications from "Overseas Institutional Investors" is that they are ready to pump in Rs 3,000 crore which is five times the anchor book size, sources said.

The anchor indicative value of the Mutual Fund business is around Rs 20,000 crore. Financial majors such as CLSA, Nomura Securities, JM Financial and Axis Bank are bankers to the issue.







More News

   'Tax on fuel more important for a dry state like Gujarat'
'Tax on fuel more important for a dry state like Gujarat'
Modi's meeting with FM, Finmin officials postponed
Modi's meeting with FM, Finmin officials postponed
Touch qualifies to IATAS-Emmy Awards; Makes India proud
Touch qualifies to IATAS-Emmy Awards; Makes India proud

Write your Comments

Disclaimer: Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. canaranews.com will not be responsible for any defamatory message posted under this article.

Please note that under 66A of the IT Act, sending offensive or menacing messages through electronic communication service and sending false messages to cheat, mislead or deceive people or to cause annoyance to them is punishable. It is obligatory on CANARANEWS to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using canaranews will be purely at your own risk, and in no way will canaranews.com be held responsible.