Reliance Capital to sell stake in mutual fund arm by September-end

Reliance Capital is all set to complete the process sell its entire stake in mutual fund arm to joint venture partner Japan’s Nippon Life Insurance by the end of September 2019. Post-stake-sale, Nippon Life Insurance will own 75% stake in Reliance Nippon Life Asset Management (RNAM) for the long term, and the rest will be owned by the public, including few marquee investors.

Reliance Capital, a part of the Reliance Group, is one of India’s leading private sector financial services companies. It has interests in asset management and mutual funds; life, health and general insurance; commercial and home finance; stock broking; wealth management services; distribution of financial products; asset reconstruction; proprietary investments and other activities in financial services.