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Anil Ambani’s Son Anmol Ambani Raises 1700 Cr For Reliance Capital

2Jun By Lavina TolaniNo Comments

BUSINESS

Anil Ambani’s Son Anmol Ambani Raises 1700 Cr For Reliance Capital

Business Tycoon Anil Ambani's Elder Son, Anmol Ambani has successfully stricken his first deal after being promoted as director of Reliance Capital, the holding company of the Reliance group’s financial services businesses. Anmol has sold 60% stake of the company to a British Game developing company Codemasters for a whopping sum of Rs. 1,700 crore. While introducing his son to Reliance Capital's shareholders' meeting, Anil Ambani had said, Anmol has brought the group and specifically Reliance Capital tremendous luck since his induction on the board. And now with a mega-funding deal that has struck right on chord bringing 25 times gain the Reliance Capital Group, Anil Ambani's word definitely seem convincing. How has the Mega Funding Deal Benefitted Reliance Capital? &...

Reliance Capital Receives 378 Crore From Nippon Life Insurance

14Jul By RishabhNo Comments

FUNDING

Reliance Capital Receives 378 Crore From Nippon Life Insurance

Reliance Capital Ltd., the holding company of Reliance Nippon Life Asset Management Limited (RNAM), has today received Rs. 378 crore from Nippon Life Insurance, a Fortune 500 company and one of the largest life insurers in the world, upon completion of the transaction for increasing NLI’s equity stake in RNAM to 49%. Reliance Capital will book capital gains on this final transaction in Q3 ending September 30, 2017. RNAM is the largest asset manager in India in terms of AUM, managing Rs. 3,58,059 Crore (US$ 55.2 Billion) as of March 31st, 2017, across mutual funds, pension funds, managed accounts and offshore funds. RNAM offers a well-rounded portfolio of products that meet varying investor requirements and constantly endeavors to launch innovative products and customer service ini...

Reliance Capital ARM Makes Seed Investment in Alternative Digital Lending Startup Billionloans

3Jul By RishabhNo Comments

FUNDING

Reliance Capital ARM Makes Seed Investment in Alternative Digital Lending Startup Billionloans

Billionloans Financial Services Pvt. Ltd. (“Billionloans”) today announced that it has closed a seed funding round of approx. Rs 7 crore (US$ 1 million) from Reliance Corporate Advisory Services Limited, a wholly-owned subsidiary of Reliance Capital. Billionloans is a technology-enabled financial services company, focused on providing flexible and affordable financing options to individuals and small businesses that have so far found it difficult to access loans from the traditional banking system to meet their aspirations. The company was founded by Dr. Rangan Varadan, a serial entrepreneur who has also co-founded MicroGraam, an online micro-lending platform and other professionals with long experience in the finance and IT industry. Billionloans connects borrowers to lenders dir...

Alibaba Acquired 1% More Equity in Paytm, Up Stake to 41%

7Mar By AnkitaNo Comments

ACQUISITION

Alibaba Acquired 1% More Equity in Paytm, Up Stake to 41%

Reliance Capital has sold its nearly 1 percent stake in popular digital payments firm Paytm for Rs 275 crore to China's Alibaba Group in a deal reaping huge gains for the Anil Ambani-led group firm. The financial services arm of Reliance Group had invested Rs 10 crore for this stake in Paytm. The deal gives a valuation of over USD 4 billion to Paytm, which is already backed by Alibaba group as a strategic investor. Sources said that Reliance Capital has retained a stake in Paytm e-Commerce, which it had got free of cost by virtue of the investment in the parent firm. In the latest fund-raising round, Paytm e-Commerce was valued at USD 1 billion. A Reliance Capital spokesperson declined to comment on the deal while Paytm spokesperson also did not comment. Earlier, Reliance C...

Reliance Capital Will Monetize 1% Stake in Paytm

17Feb By NitishNo Comments

News

Reliance Capital Will Monetize 1% Stake in Paytm

According to the sources, Reliance Capital will sold its 1% share in Paytm to stay focus on its core business. Reliance capital owned 1% in Paytm and the valuation of the e-wallet company was valued at USD 4.8 billion. The news was first published by Moneycontrol website. The leading investor in the Paytm, Alibaba Group is the potential buyer of the share. In December Paytm CEO has sold his 1% equity of Paytm’s parent firm One97 Communications for about Rs 325 crore to invest in its new venture Paytm payment bank. Paytm, which is run by One97 Communications, created two separate entities -Paytm E-commerce and Paytm Payments Bank. The e-wallet business will connect with payment bank in future using payment bank. On the question of Alibaba shares in Payment Bank, Paytm CEO denied an...