Reliance Money has recommended investors to “Subscribe” to the initial public offering of Talwalkars Better Value Fitness. Reliance money has already identified and appointed franchisee partners in 1001 tehsils with the help of rural relations, a rural consumer focused organization.
The company entered the primary market Wednesday with an issue size of 60,50,000 shares. The price band of the IPO is fixed at Rs 123-128 and plans to raise around Rs 74.2 crore (at lower price band) and Rs 77.44 crore (at the upper price band).
Reliance money, the financial products retail arm of reliance capital , a company owned by the Anil Dhirubhai Ambani group (ADAG) has decided to expand distribution network in rural areas . Reliance money is involved in selling financial products like life insurance, general insurance and mutual funds.
“Despite expected strong growth, we believe the stock is valued at around 30x its FY12E EPS at the higher end of the price band. However, considering the niche industry TBVF operates in, its brand recall, first mover advantage and strong growth prospects, we believe that premium valuations could sustain. Hence, we recommend Subscribe to the issue with a longer-term perspective. However this does not take away the fact that the IPO is a high-risk issue.
Reliance Money is an endeavor to change the way India trades in financial markets and avails of various financial services. Reliance Money ensures maximum security with a unique security token to keep your online account safe.
Reliance Group is among India’s top three private sector groups. Reliance Money (Product of Reliance Group) is a comprehensive electronic transaction platform offering a wide range of financial asset classes.
In a massive ” inclusive growth initiative , first of its kind in Indian corporate history which would provide employment to 50000 rural youth , the company decided to extend its rural reach this fiscal by setting up 10000 franchise outlets in 5165 of the 5645 tehsils of the country according to a Hindu business line report.
Reliance money has already identified and appointed franchisee partners in 1001 tehsils with the help of rural relations, a rural consumer focused organization.
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