<article>Japanese firm <a style="color: #000080;" href="https://www.nissay.co.jp/english/" target="_blank">Nippon Life Insurance Co</a>. is in advanced talks with Anil Ambani-controlled Reliance Group to increase its stake in <a style="color: #000080;" href="http://www.reliancelife.com/" target="_blank">Reliance Life Insurance Co</a> and <a style="color: #000080;" href="https://www.reliancemutual.com/." target="_blank">Reliance Capital Asset Management Ltd</a>.</article>

Japanese firm <a style="color: #000080;" href="https://www.nissay.co.jp/english/" target="_blank">Nippon Life Insurance Co</a>. is in advanced talks with Anil Ambani-controlled Reliance Group to increase its stake in <a style="color: #000080;" href="http://www.reliancelife.com/" target="_blank">Reliance Life Insurance Co</a> and <a style="color: #000080;" href="https://www.reliancemutual.com/." target="_blank">Reliance Capital Asset Management Ltd</a>.
Addressing shareholders at the Reliance Capital Ltd’s annual general meeting on Wednesday, group chairman Anil Ambani said the company is in active discussions with Nippon Life Insurance to enhance collaboration for mutual benefit.
“Pursuant to the increase in foreign direct investment limits announced by the government, Reliance Capital is now at an advanced stage of discussions with Nippon Life, for an increase in their stake from 26% to 49% in Reliance Life. Nippon Life Insurance also actively engaged in the process of raising its stake in Reliance Capital Asset Management from 35% to 49% at a higher valuation as compared to the last round,” said Ambani adding that the transactions will be concluded in this financial year.
Nippon Life had first bought 26% stake in Reliance Capital Asset Management in 2012 for Rs.1,450 crore. These proceeds of these deals will flow to Reliance Capital and will be utilised to further reduce overall debt levels, the chairman said. Reliance Capital has a total debt of Rs.26,139.00 crore as on 31 March.
“Reliance Capital continues to liquidate its financial investments in non-core areas, such as media and expect to book attractive returns. The proceeds from all monetisation of assets will substantially be utilised to further reduce debt and strengthen Reliance Capital’s already conservative financial ratios,” Ambani added.
Reliance Capital plans to double its housing finance book to over Rs.10,000 crore this year.
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Nippon Life Insurance Co in advanced talks with Reliance Group to increase its stake in Reliance Life Insurance Co and Reliance Capital Asset Management Ltd.


India: Nippon Life in talks to raise stake in Reliance Life, MF to 49%

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