Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
22 May, 2018 17:19 IST
R-Cap receives Rs 3.78 bn on completion of transaction
Source: IRIS | 13 Jul, 2017, 03.08PM
Comments  |  Post Comment

Reliance Capital, the holding company of Reliance Nippon Life Asset Management (RNAM), has today received Rs 3.78 billion from Nippon Life Insurance, a Fortune 500 company and one of the largest life insurers in the world, upon completion of the transaction for increasing NLI's equity stake in RNAM to 49%.

Reliance Capital will book capital gains on this final transaction in Q3 ending September 30, 2017.

RNAM is the largest asset manager in India in terms of AUM, managing Rs 3,580.59 billion (USD 55.2 Billion) as of March 31st, 2017, across mutual funds, pension funds, managed accounts and offshore funds.

RNAM offers a well-rounded portfolio of products that meet varying investor requirements and constantly endeavors to launch innovative products and customer service initiatives to increase value to investors.

During the year ended March 31, 2017, the Company announced a YoY increase of 25% in its AUM to Rs 3,580.59 billion (USD 55.1 Billion); a YoY increase of 9% in its Total Income to Rs 14.36 billion (USD 221 million) and a 16% increase in its PBT to Rs 5.81 billion (USD 90 million).

Nippon Life Insurance is already a strategic partner in RNAM. Nippon Life Insurance acquired 26 per cent stake in RNAM (formerly known as Reliance Capital (Q,N,C,F)* Asset Management) in 2012. Thereafter, Nippon Life has increased its stake to 49% in various tranches, reflecting the success of the partnership.

Nippon Life Insurance is an over 125 years old insurer and a Global Fortune 500 company that manages over USD 530 billion (Rs 34.45 Lakh crore) in assets-amongst the largest total assets in the world for any life insurer. The company is one of the largest life insurers in the world. 

Shares of the company gained Rs 2.05, or 0.31%, to trade at Rs 660.50. The total volume of shares traded was 262,581 at the BSE (2.57 p.m., Thursday).



Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Company Update
Cipla swings to profit in Jan-Mar quarter - 22-May-2018 16:24
Indian Oil Corporation quarterly net surges 40.3% - 22-May-2018 15:36
State Bank of India turns to loss in Jan-Mar quarter - 22-May-2018 15:25
MCX Commences options trading on copper futures - 22-May-2018 13:22
SSWL gets another truck wheels order from USA - 22-May-2018 13:14
Colgate-Palmolive quarterly profit rises 32.4% - 22-May-2018 10:02
Petronet LNG quarterly net up 11% - 22-May-2018 09:57
Wipro Gallagher Solutions launches NetOxygen Saas for loan origination - 22-May-2018 09:41
Glenmark Pharma submits Ryaltris NDA application to USFDA - 22-May-2018 09:38
Larsen & Tubro wins orders worth Rs 40.33 bn - 22-May-2018 09:33
Ind-Ra downgrades Reliance Infra and its NCDs to 'BBB+' - 21-May-2018 15:31
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer