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We didn't recommend IEX nor GIC but we do Reliance Nippon.
Issue Open : Oct 25, 2017 - Oct 27, 2017.
Issue Price : Rs.247 - Rs. 252 Per Share.
Market Lot: 59 Shares.
Company is promoted by Reliance Capital Limited. Reliance Capital is an RBI registered non-banking finance company with business interests including in asset management and mutual funds, life, health and general insurance, commercial and home finance, stock broking, wealth management services, distribution of financial products, asset reconstruction and proprietary investments. Reliance Capital Limited is a part of Reliance Group led by Mr. Anil D. Ambani.
Nippon Life Insurance Company, one of the leading private life insurers in Japan is the co-promoter of the company.
Reliance Nippon Life is involved in managing:
1. Mutual funds (including ETFs);
2. Managed accounts, including portfolio management services, alternative investment funds (AIFs) and pension funds; and
3. Offshore funds and advisory mandates.
Year ended on 31st March, 2017, the net profits were 4055 millions and revenues of the company were 14004 millions.
We recommend to subscribe for the IPO for short term gains.
© Sharp Investment & Financial Advisers
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