Reliance Nippon Life IPO size would be around 10% of the post issue paid-up capital of the company. Photo: ReutersNew Delhi: Reliance Nippon Life Asset Management Ltd has received the go-ahead from Sebi for its estimated Rs2,000 crore initial public offer. The Securities and Exchange Board of India (Sebi) issued its observations on the proposed IPO of Reliance Nippon on 5 October, as per the latest update available on the regulator’s website. Jointly owned by Japan’s Nippon Life and Reliance Capital, the firm is the asset manager to Reliance Mutual Fund. Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed.

Source: Mint October 10, 2017 14:48 UTC