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Reliance Capital to offload 3.15% stake in RNAM

Reliance Capital is planning to offload 1.93 crore shares, representing 3.15 per cent equity, in Reliance Nippon Life Asset Management (RNAM) for over Rs 505 crore on stock exchanges through ‘Offer for Sale’ route on September 11 and September 12.

The company held 32.12 per stake in RNAM at June end, while the other promoter Nippon Life Insurance Company held 42.88 per cent state.

Reliance Capital, a part of the Reliance Group, is one of India’s leading private sector financial services companies. It has interests in asset management and mutual funds; life, health and general insurance; commercial and home finance; stock broking; wealth management services; distribution of financial products; asset reconstruction; proprietary investments and other activities in financial services.

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