Reliance Nippon Life OFS on track for Rp7bn

rupees 230-150x
By Jonathan Breen
24 May 2019

Reliance Capital is eyeing at least Rp7bn ($100m) from a sell-down of a chunk of Reliance Nippon Life Asset Management stock.

The Indian financial services company is selling 32.1m secondary shares, or 5.25% of the asset manager’s equity, through an offer-for-sale (OFS). There is also a 20.9m, 3.41%, share oversubscription option.

The two-day offering was launched on Friday and will run through to the close of business on May ...

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