Reliance Capital completes 21.5% stake sale in unit to Nippon Life

Reliance Capital completes 21.5% stake sale in unit to Nippon Life

Reliance Asset Management will soon be renamed Reliance Nippon Life Asset Management, subject to approvals from relevant authorities. Photo: Abhijit Bhatlekar/Mint

Reliance Capital Ltd has completed the sale of its 21.54% stake in Reliance Nippon Life Asset Management Ltd (RNAM) to Nippon Life Insurance of Japan for 3,030 crore (approximately $ 430 million), the company said in a statement.

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