Introduction: Reliance Nippon Life Asset Management Ltd is a asset management company controlled from Mumbai. Reliance Nippon holds around 11% of the mutual fund offering in India.
The healthy margins have made it one of the best profitable companies in India. Company manages 55 open-ended mutual fund schemes including 16 ETFs and 174 closed ended schemes
Date of Establishment: Company was formed in the year 1995.
Product & Service Offering: Reliance nippon manages
About Nippon Life India Asset Management Limited
Mutual funds (including ETFs);
2. Managed accounts, including portfolio management services, alternative investment funds (AIFs) and pension funds; and
Offshore funds and advisory mandates.
Customer Segment: The company manages its retail customers through its network of 170+ branches and 58,000 distributors
Promoters of Reliance Nippon:
Reliance Capital Limited; and
Nippon Life Insurance Company
Objects of the Issue:
The offer consists of the fresh Issue and the Offer for Sale. Company will not receive any proceeds from the Offer for Sale.
The Net Proceeds would be utilized for :
Setting up new branches
Modernization of IT systems
Marketing & Branding
Lending to its subsidiary
Funding inorganic growth and other strategic initiatives; and
Meeting expenses towards general corporate purposes.