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Nov 06, 2017 04:59 PM IST | Source: Moneycontrol.com

Reliance Nippon Life closes with 13% premium at Rs 284.40 on first day

On the BSE, the stock closed with a premium of 12.7 percent at Rs 284 after hitting day's high of Rs 298.70 and low of Rs 278.

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Reliance Nippon Life Asset Management has a spectacular session on Monday, the first day of listing, closing with nearly 13 premium on National Stock Exchange.

The stock price settled at Rs 284.40, rising 12.85 percent over issue price of Rs 252 per share after hitting hitting an intraday high of Rs 299 and low of Rs 278.

Reliance Nippon Life share price opened at Rs 295.90 on the exchange, a premium of 17.4 percent over issue price.

On the BSE, the stock closed with a premium of 12.7 percent at Rs 284 after hitting day's high of Rs 298.70 and low of Rs 278.

Reliance Nippon Life Asset Management (RNAM), the first asset management company getting listed on exchanges, had opened its Rs 1,540-crore IPO during October 25-27. The issue was oversubscribed 81.54 times.

This was also the first IPO from the Reliance group after Reliance Power in 2008. Other listed firms of the group include Reliance Capital, Reliance Home Finance, Reliance Communications, Reliance Naval and Engineering and Reliance Infra.

Promoters Reliance Capital and Nippon Life collectively sold 3.67 crore shares.
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