According to banking sources associated with the IPO, RNAM -- which will dilute 10 per cent stake through the IPO -- started the roadshows in Japan, Hong Kong and Singapore on Monday.
Sources said that an "overwhelming response" from investors for RNAM IPO has been received at these roadshows.
The initial indications from "Overseas Institutional Investors" is that they are ready to pump in Rs 3,000 crore which is five times the anchor book size, sources said.
The anchor indicative value of the Mutual Fund business is around Rs 20,000 crore. Financial majors such as CLSA, Nomura Securities, JM Financial and Axis Bank are bankers to the issue.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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