Reliance Nippon Life IPO subscribed 4.90 times

Reliance Nippon Life IPO subscribed 4.90 times

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The initial public offering (IPO) by Reliance Nippon Life Asset management (RNAM) was subscribed 4.90 times on Thursday.The IPO was fully subscribed yesterday.

The issue has received bids for 21,00,32,979 shares as compared with the total issue size of 4,28,40,000 shares.

The QIB portion was subscribed 6.13 times, while NIB portion was subscribed 11.38 times.

The Reliance Nippon AMC IPO has set a price band of Rs247-252 per share.The IPO was opened between October 25 and 27.