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Japan's Nippon Life becomes sole sponsor of RNam, raises stake to 75%

With this transaction, Japan-based Nippon Life's gross investments in RNam is now over Rs 7,800 crore

Reliance Capital
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Reliance Capital

Jash Kriplani Mumbai
Nippon Life Insurance on Friday announced that it has become the sole sponsor of Reliance Nippon Life Asset Management (RNam) after successfully raising its stake to 75 per cent. 
  
With this transaction, Japan-based Nippon Life's gross investments in RNam is now over Rs 7,800 crore.
 
Sundeep Sikka, chief executive officer of RNam, said, "It has always been a great opportunity to work closely with Nippon Life. They have been very supportive shareholders since the very beginning and this transaction will set the stage for long-term growth of the company." 
 
"We will continue to benefit from Nippon Life’s leading

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First Published: Sep 27 2019 | 9:42 PM IST

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