At this price, the total amount works out to be Rs 462.67 crore, it added.
Among the anchor investors are Abu Dhabi Investment Authority, Kuwait Investment Authority, Morgan Stanley, Fidelity International, Eastspring Investments, Columbia Threadneedle Investments, Pictet, HDFC Mutual Fund(MF), Birla Sunlife MF, SBI MF, UTI MF, DSP Blackrock MF, IDFC MF, ICICI Prudential Life and Bajaj Allianz.
RNAM will hit the capital markets on Wednesday to raise an estimated Rs 1,542.42 crore through its initial public offer (IPO). The public issue will close on October 27.
The firm has fixed a price band of Rs 247-252 per equity share.
It will be the first initial share sale by a major asset management company (AMC) in India though smaller rival UTI Mutual Fund's IPO plans have been in the works since a long time.
Also, it will be the first IPO from the Reliance Group after Reliance Power in 2008.
Other listed firms of the group included Reliance Capital, Reliance Home Finance, Reliance Communications, Reliance Naval & Engineering and Reliance Infra.
Earlier merchant banking sources confirmed a huge demand of over Rs 15,000 crore from 50 anchor investors against the earmarked book size of Rs 462.67 crore for them under its forthcoming IPO.
RNAM's public issue comprises fresh issuance of 2.45 crore shares, besides an offer for sale of 3.67 crore shares by Reliance Capital and Nippon Life Insurance Company.
Reliance Capital and Nippon Life will each dilute 3 per cent stake. The IPO size will be around 10 per cent of the post issue paid-up capital of the company.
JM Financial, CLSA, Nomura and Axis Capital are the global coordinators and book running lead managers for the initial share sale.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)