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Reliance Nippon Life dips 4% on stake sale by RCap via Offer for Sale

Reliance Capital, which is one of the promoters of the RNAM, is selling the stake to achieve the minimum public shareholding in RNAM

Reliance Nippon Life dips 4% on stake sale by Reliance Cap via Offer for Sale
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SI Reporter New Delhi
Shares of Reliance Nippon Life Asset Management slipped up to 4 per cent to Rs 274.5 on the NSE on Wednesday after the company informed the exchanges that it would sell up to 3.15 per cent of equity shares for over Rs 505 crore on stock exchanges through 'Offer for Sale' route on September 11 and 12.

"Reliance Capital proposes to sell up to 1,93,05,019 equity shares, representing 3.15 per cent of the total issued and paid-up equity share capital, of face value of Rs 10 each on September 11, 2019 (for non-retail investors only) and on September 12, 2019

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