Reliance Nippon Life gets Sebi nod for Rs.2,000-crore IPO

Reliance Nippon Life Asset Management Ltd has received the in principle approval from Sebi for its estimated Rs 2,000 crore initial public offer. The Anil Ambani-led Reliance Group firms IPO would be the first by an asset management company (AMC) in India though smaller rival UTI Mutual Funds offer plans have also been in the works for a long time.