Reliance Capital is planning to reduce its overall debt by Rs 10,000-Rs 12,000 crore in the next three to four months through stake sale in two ventures and monetisation of several non-core investments.
The company would monetise 43 percent of its stake in Reliance Nippon Life Asset Management (RNAM) and 49 percent shareholding in Reliance General Insurance Company (RGICL). The completion of these transactions would be a major step forward in Reliance Capital's deleveraging strategy.
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.
