Nippon Life Insurance To Raise Stake In Reliance Capital-Owned Asset Manager To 75%

Reliance Nippon Life Asset Management Ltd said on Thursday its Japanese investor would increase its stake in the Mumbai-based asset manager to 75%.

Reliance Capital and Nippon Life Insurance Co both own 42.88% stake each in Reliance Nippon. Nippon Life will buy out most of Reliance Capital's stake with this deal, the asset manager said.