You are here » Home » Companies » Company Overview » Nippon Life India Asset Management Ltd

Nippon Life India Asset Management Ltd.

BSE: 540767 Sector: Financials
NSE: NAM-INDIA ISIN Code: INE298J01013
BSE 00:00 | 03 Apr 251.65 -6.85
(-2.65%)
OPEN

258.00

HIGH

261.20

LOW

247.50

NSE 00:00 | 03 Apr 251.25 -7.50
(-2.90%)
OPEN

258.50

HIGH

261.20

LOW

247.15

OPEN 258.00
PREVIOUS CLOSE 258.50
VOLUME 96184
52-Week high 452.95
52-Week low 183.00
P/E 28.24
Mkt Cap.(Rs cr) 15,404
Buy Price 250.00
Buy Qty 2568.00
Sell Price 251.45
Sell Qty 100.00
OPEN 258.00
CLOSE 258.50
VOLUME 96184
52-Week high 452.95
52-Week low 183.00
P/E 28.24
Mkt Cap.(Rs cr) 15,404
Buy Price 250.00
Buy Qty 2568.00
Sell Price 251.45
Sell Qty 100.00

Nippon Life India Asset Management Ltd. (NAM-INDIA) - Company History

Reliance Nippon Life Asset Management Limited (RNAM) is one of the largest asset management companies in India; managing (directly & indirectly) assets across mutual funds pension funds managed accounts alternative investments and offshore funds. RNAM is the asset manager of Reliance Mutual Fund (RMF) Schemes. RMF has a pan India presence across 298 locations and over 71100 empanelled distributors. RNAM also has the mandates for fund management from Employees' Provident Fund Organisation (EPFO) The Pension Fund Regulatory and Development Authority (PFRDA) [as a Sponsor of the Pension Fund Manager] and The Coal Mines Provident Fund Organisation (CMPFO). As of March 31 2018 the Company had three subsidiaries. Two of such subsidiaries are overseas being one each in Singapore and Mauritius and one subsidiary being in India. All the subsidiaries of the Company are engaged in financial services and related activities.RNAM acts as an advisor for India focused Equity and Fixed Income funds [in Japan (launched by Nissay Asset Management) Korea (launched by Samsung Asset Management) and in Thailand (launched by BBL Asset Management)]. RNAM also manages offshore funds through its subsidiaries in Singapore and Mauritius and has representative office in Dubai thereby catering to investors across Asia Middle East UK US and Europe.Reliance Nippon Life is promoted by Reliance Capital Limited an RBI registered non-banking finance company (NBFC) with business interests including 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 and proprietary investments. Reliance Capital Limited is a part of Reliance Group which has business interests in financial services telecommunications power energy infrastructure and defense. The Reliance Group is led by Mr. Anil D. Ambani one of India's prominent business leaders. The Company's co-promoter Nippon Life Insurance Company ('Nippon Life') is one of the leading private life insurers in Japan. Nippon Life offers a wide range of financial products including individual and group life and annuity policies.Reliance Nippon Life Asset Management Limited was originally incorporated as a public limited company with the name `Reliance Capital Asset Management Limited' on February 24 1995 at Ahmedabad. Subsequently in accordance with the terms of the Second Amended & Restated Shareholders' Agreement dated October 13 2015 executed amongst the Company Reliance Capital and Nippon Life the name of the Company was changed to `Reliance Nippon Life Asset Management Limited' on May 5 2016. The company started mutual fund operations in 1995 as the asset manager for Reliance Mutual Fund. During the year under review Reliance Mutual Fund launched two schemes Reliance Growth Fund and Reliance Vision Fund.In 2004 RNAM commenced portfolio management services. During the year under review the company commenced offshore operations in Mauritius by setting up a wholly owned subsidiary Reliance Asset Management (Mauritius) Limited.In 2005 the company commenced offshore operations in Singapore by setting up a wholly owned subsidiary Reliance Asset Management (Singapore) Pte Limited.In 2008 the company executed a contract to provide discretionary portfolio management services to the Employees' Provident Fund Organisation (acting through its Central Board of Trustees).Reliance Capital Pension Fund Limited one of the Group Companies received a Certificate of Commencement of Business as a pension fund manager from the Pension Fund Regulatory and Development Authority (PFRDA) in 2009 and manages pension assets under the National Pension System (NPS).In 2012 RNAM received the first tranche of investment from Nippon Life Insurance Company Japan.In 2014 the company's subsidiary Reliance AIF Management Company Limited was appointed as the `manager' to the Reliance Capital AIF Trust. During the year under review Reliance Mutual Fund launched a Japan focused open-ended diversified equity scheme under the name Reliance Japan Equity Fund.In 2015 RNAM entered into an investor advisory agreement with Samsung Asset Management (Hong Kong) Limited. During the year under review Reliance Mutual Fund launched equity-oriented Retirement Fund. During the year under review Quarterly Average Assets under Management (QAAUM) of Reliance Mutual Fund crossed Rs 1.5 lakh crore.In 2016 the company acquired the asset management rights of 12 schemes being managed by Goldman Sachs Asset Management (India) Private Limited. During the year under review the company executed a contract to provide discretionary portfolio management services to the Coal Mines Provident Fund Organization (acting through its Board of Trustees). During the year under review the company's subsidiary Reliance AIF Management Company Limited was appointed as the `manager' to the Reliance Event Opportunities Trust.In 2017 Quarterly Average Assets under Management (QAAUM) of Reliance Mutual Fund crossed Rs 2 lakh crore.RNAM came out with an initial public offer (IPO) during the period from 25 October 2017 to 27 October 2017. The IPO was a combination of fresh issue of 2.45 crore equity shares by the company and offer for sale of a total of 3.67 crore shares by promoter selling shareholders. The stock debuted at Rs 294 on BSE on 6 November 2017 a premium of 16.66% compared to the IPO price of Rs 252 per share.On 11 October 2018 Reliance Nippon Life Asset Management Limited (RNAM) announced that it has received mandate from the Employees' State Insurance Corporation (ESIC) to manage its funds. RNAM already manages mandates from Employees' Provident Fund Organization (EPFO) The Coal Mines Provident Fund Organization (CMPFO) and The Pension Fund Regulatory and Development Authority (PFRDA) thus becoming the only asset manager to manage all the four prestigious mandates.On 20 November 2018 Reliance Mutual Fund (RMF) announced Further Fund Offer 3 (FFO3) of its Central Public Sector Enterprises - Exchange Traded Fund (CPSE ETF). This FFO3 is part of the Government of India's overall disinvestments program announced earlier by the Department of Investment and Public Asset Management (DIPAM) Ministry of Finance using the ETF route.On July 13 2017 Nippon Life Insurance Company (NLI) an existing equity shareholder holding 44.57% stake in the Company acquired an additional 4.43% stake by way of purchase of equity shares from Reliance Capital Limited (RCL). Post this acquisition the equity stake of NLI in the Company was increased to 49.00% and subsequently NLI was also classified as one of the Promoters of the Company along with RCL.During the year 2017-18 the Company had allotted 576000000 number of fully paid up equity shares of face value of Rs.10/- each in August 2017 to the Members of the Company in proportion of 1:50.During the year 2017-18 the Company came out with its initial public offering (IPO) and diluted the 10% post issue capital in favor of the public. Both the promoters of the Company (i.e. RCL and NLI) also participated in the IPO by way of an offer for sale component and diluted part of their holdings in favor of the public. The total IPO size was Rs.1542.24 Crores out of which the Company raised Rs.616.89 Crores as primary subscription and the remaining proceeds of Rs.925.37 Crores were towards offer for sale.During the year 2017-18 the Company has redeemed all the outstanding 3000000 number of preference shares which were issued by the Company in the previous years.During the year 2017-18 Reliance Capital Pension Fund Limited ceased to be a subsidiary of the Company and became Company's associate company.