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Nippon Life to hike stake in Reliance Capital to 49%

PTI 26 Nov 2014, 13:12:32 PM IST
PTI

New Delhi: Japanese financial services giant Nippon Life will hike its stake in Reliance Capital Asset Management Company from 26 per cent to 49 per cent.

Nippon will buy 9 per cent stake in Reliance Capital AMC for Rs. 657 crore in first tranche; to acquire further 14 per cent stake in multiple tranches.