Anil Ambani's Reliance Group raises Rs 14 bn by listing Codemasters on AIM

Codemasters is currently valued at around Rs 32 billion

Anil Ambani-led Reliance Group has raised Rs 14 billion by listing its gaming unit Codemasters on London Stock Exchange’s AIM, a fund raising avenue for small-sized companies.

The initial public offering (IPO) of equity of Codemasters comprised primary fund raising worth Rs 1.5 billion and secondary share sale of Rs 15.5 billion by the Reliance Group and other shareholders. The IPO is a “major step forward in Reliance Capital’s deleveraging strategy through unlocking of value from group non-core entertainment assets,” the company said.

The offering was “significantly oversubscribed” and the listing happened at 30 per cent premium, the release added.  Shares were