Reliance Nippon Life Asset Management (RNAM) is all set to hit the primary market with its Rs 1,542 crore initial public offering on Wednesday. The firm will announce anchor allocation on Tuesday. The IPO size would be around 10 per cent of the post issue paid-up capital of the company. Reliance Nippon's profit before tax (PBT) has grown eight times in last 10 years. "If we take few of the listed AMCs in US, the average multiple is 2.3 per cent of the AUM.

Source: Economic Times October 23, 2017 09:56 UTC