The initial public offer of Reliance Nippon Life Asset Management Limited was subscribed 4.93 times on the second day on Thursday, Mint reported, citing data from the stock exchanges. On Wednesday, the public listing had been fully subscribed within a minute and had been subscribed over two times within an hour, The Times of India reported.
As of 12.30 pm on Thursday, the IPO had received bids for 21.14 crore shares against the total issue size of 4.28 crore shares. The IPO will close on Friday.
By the end of day one on Wednesday, the IPO was subscribed 4.64 times.
The IPO of the asset management company saw investments from investors like Rakesh Jhunjhunwala, Nimesh Shah and Aakash Bhansali, CNBC-TV18 had reported on Wednesday.
The public offer is priced in a band of Rs 247-Rs 252 per share.