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Nippon Life to hike stake in Reliance Capital to 49%

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
PTI November 26, 2014 13:12 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.