Reliance Nippon Life Asset Management Ltd, India’s third-largest mutual fund manager, on Tuesday said it has raised Rs462.67 crore by selling shares to institutional investors as part of its anchor book allocation, a day before its initial public offering (IPO) opens.
Shares were allocated to 24 investors at Rs252 apiece, the upper end of the price band of Rs247-252 for the IPO. The Rs1,542 crore IPO will open on 25 October and close on 27 October.
