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...