The Anil Ambani group firm, Reliance Capital, will book capital gains on this final transaction in the quarter ending September 30, 2017.
As on March 2017, Reliance Nippon Life Asset Management (RNAM) had an asset base of Rs 3.6 lakh crore (about USD 55 billion).
Nippon Life Insurance is an over 125 years old insurer and a Global Fortune 500 company that manages over Rs 34.45 lakh crore (USD 530 billion) in assets.
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.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%