Anil Ambani’s Reliance Group on Friday said its gaming firm Codemasters had managed to raise ₹1,700 crore via an IPO by listing on the London Stock Exchange’s AIM platform. Codemaster shares were traded at 260 pence, a 30 per cent premium to the IPO of 200 pence.

The £185-million (about ₹1,700 crore) IPO comprised sale of fresh shares worth £15 million and sale of shares to the tune of £170 million by Reliance Group and other management stakeholders. Reliance Group offloaded 60 per cent stake in Codemasters and now hold 29 per cent in the company.

Reliance Group received ₹1,400 crore from the IPO sale and rest of its stake is currently valued at ₹1,000 crore.

Reliance Group today announced the successful listing of its leading edge developer and publisher of games, Codemasters Ltd, through admission of its shares to trading on the AIM market of the London Stock Exchange, it said.

Alternative Investment Market (AIM) is a venue for listing of small and medium-size companies and has more flexible regulatory system than applicable to LSE’s main market. “I am delighted with the successful outcome of the Codemasters offering in the international markets,” Reliance Capital Group Executive Director Anmol Ambani said.

According to Reliance Group, Codemasters’ offering was major step forward in strategy of unlocking value from media and entertainment investment, disposing of non-core investment, bringing down Reliance Capital’s overall exposure to Reliance Entertainment and deleveraging the financial services firm’s balance sheet.

With a total assets of over ₹3 lakh crore, Reliance Group is a leading business house and has a presence across financial services, telecom, energy, power, infrastructure and media and entertainment sectors.