RNAM starts international roadshows with an anchor book of Rs 600 cr

Reliance Nippon Asset Management Company (RNAM) has started international roadshows in different parts of Asia to attract investors for its upcoming initial public offering (IPO) with an “Anchor Book” size of Rs 600 crore.

According to banking sources associated with the IPO, RNAM — which will dilute 10 per cent stake through the IPO — started the roadshows in Japan, Hong Kong and Singapore on Monday.

Sources said that an “overwhelming response” from investors for RNAM IPO has been received at these roadshows.

The initial indications from “Overseas Institutional Investors” is that they are ready to pump in Rs 3,000 crore which is five times the anchor book size, sources said.

The anchor indicative value of the Mutual Fund business is around Rs 20,000 crore. Financial majors such as CLSA, Nomura Securities, JM Financial and Axis Bank are bankers to the issue.

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