Reliance Capital, the holding company of Reliance Nippon Life Asset Management (RNAM), has received Rs 378 crore from Nippon Life Insurance (NLI), 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%. The company will book capital gains on this final transaction in Q3 ending September 30, 2017.
Reliance Capital, a part of the Reliance Group, is one of India’s leading private sector financial services companies. It ranks amongst the top private sector financial services and banking groups, in terms of net worth.
