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Reliance Nippon Life Asset Management (RNAM) on Wednesday announced its plans to list its equity shares through an IPO in the current financial year. The company has proposed to list a minimum of 10 per cent shares this year and up to 25 per cent by FY21 in accordance with SEBI (Regulatory) guidelines.
RNAM is the asset manager to Reliance MF and will be the first among the top three players in the AMC industry to list its shares on the exchanges. The percentage of dilution, which will be subject to regulatory norms, is yet to be decided.
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