Saturday , October 16 2021

Reliance Capital’s stake sell in mutual fund arm to be completed by September-end

Reliance Capital’s deal to sell its entire stake in mutual fund arm to joint venture partner Japan’s Nippon Life Insurance is likely to be completed by the end of September 2019. Post-stake-sale, Nippon Life Insurance will own 75 percent stake in Reliance Nippon Life Asset Management (RNAM) for the long term, and the rest will be owned by the public, including few marquee investors.

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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