As on March 2017, Reliance Nippon Life Asset Management (RNAM) had an asset base of Rs 3.6 lakh crore (about USD 55 billion).
"Reliance Capital, the holding company of Reliance Nippon Life Asset Management, received Rs 378 crore from Nippon Life Insurance," it said in a statement.
Nippon, which is already a strategic partner in RNAM, had acquired 26 per cent stake in the company for Rs 1,450 crore in 2012. Subsequently, Nippon Life in 2015 had purchased 9 per cent additional stake for about Rs 657 crore to take its holding to 35 per cent.
Thereafter, Nippon Life increased its stake to 49 per cent in various tranches, reflecting the success of the partnership.
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