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Reliance Capital shares gain over 2 pc

Press Trust of India  |  New Delhi 

Shares of Capital rose by over 2 per cent Friday after the company reiterated that it had invited to acquire up to 42.88 per cent stake held by in Nippon Life Asset Management.

The scrip gained 2.18 per cent to close at Rs 114.95 on the BSE. During the day, it rose sharply by 8.22 per cent to Rs 121.75.

At the NSE, shares climbed 1.68 per cent to close at Rs 114.50.

Shares of Nippon Life Asset Management went up by 2.33 per cent to close at Rs 201.70 on the BSE.

BSE had sought clarification from (RCap) earlier Friday regarding reports related to the transaction.

In its reply, said, "With reference to your email dated May 17, 2019 on the subject, you may kindly note that had invited its partner Company to make an offer to acquire up to 42.88 per cent stake held by Reliance Capital in "

Further announcements in this regard shall be made at the appropriate time, the filing added.

Japan's already holds 42.88 per cent stake in (RNAM).

Reliance Capital (RCap) had in February invited Nippon Life Insurance to acquire its entire 42.88 per cent stake in RNAM.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 17 2019. 17:31 IST