Reliance Capital invites Nippon Life to acquire 42.88% stake in its mutual fund business

Reliance Capital has invited Nippon Life Insurance to acquire up to 42.88 percent stake that it holds in Reliance Nippon Life Asset Management (RNAM), a statement to the exchange revealed.

Nippon Life Insurance already holds 42.88 percent stake in RNAM. The management, however, did not provide any other details.

Further announcements shall be made at the appropriate time, the company said.

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