SME Times News Bureau | 26 Nov, 2014
Japan's Nippon life has decided to increase its stake in the asset management company of Anil Ambani-led Reliance Capital to 49 percent from 26 percent now, the company said Wednesday.
In the first tranche, Nippon will invest a little over USD 100 million for a 9-percent stake, taking the valuation of Reliance Capital Asset Management to USD 1.2 billion.
The investment in the next tranche will be at a future valuation, sources said.
