Anil Ambani owned Reliance Capital Ltd said that it signed binding definitive agreements with Nippon Life Insurance, one of the largest life insurance companies in Japan to increase its stake in investment management firm Reliance Nippon Life Asset Management Limited (RNAM) to 75%. Reliance Capital said that it will receive Rs 6,000 crore from the […]
Anil Ambani today praised his son Anmol Ambani for bringing about a “cultural change” in his business group, and said the 26-year-old has been added to the director boards of two more of his group companies. Anmol Ambani will join the director boards of Reliance Nippon Life Asset Management and Reliance Home Finance. It was […]
Reliance Capital, the financial services arm of the Anil Ambani Group, said its insurance unit, Reliance Nippon Life Insurance, signed up state-owned Bank of Maharashtra as a corporate agency to distribute its products. The Anil Ambani Group company said partnership further will increase distribution fee revneue for the bank. “Bank of Maharashtra with its extensive […]
Reliance Capital, the financial services arm of the Anil Ambani Group, said the Securities and Exchange Board of India (SEBI) issued its final observation letter to the draft red herring prospectus filed by its general insurance unit. The group had recently seen the successful IPO of its life insurance company, Reliance Nippon Life Insurance, which […]
Reliance Capital said its subsidiary Reliance General Insurance Company signed an agreement with YES BANK to distribute general insurance products to the customers of YES BANK. YES BANK is India’s 5 th largest private sector Bank with a network of 1040 branches across and will act as a corporate agent of the insurance company. The deal will […]
Reliance Capital reported a 2% year-on-year increase in total income for the September quarter for its subsidiary Reliance Commercial Finance Ltd. It earned pretax profit of Rs 92 crore, up 7% on year, while total income came in at 502 cr. As on September 30, 2017, outstanding loan book was Rs. 12,653 crore – a […]
Reliance Capital said the IPO of its subsidiary Nippon Life Asset Management will open on Oct 25 and close on Oct 27, with a price band of Rs 247 to Rs 252 per share. The offer will raise about 1,500 cr, out of which about Rs 600 cr will go to the company and the […]
Anil Ambani Group’s Reliance Capital Indian Renewable Energy Development Agency Limited (IREDA) will make available Rs 300 cr for lending to renewable energy and energy efficiency projects. IREDA is a Government of India Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE). Reliance Commercial Finance Limited, the company subsidiary that operates […]
Anil Ambani Group’s Reliance Capital said it received Rs. 378 crore from Nippon Life Insurance, one of the largest life insurers in the world, after the foreign company increased its stake in Reliance Nippon Life Asset Management Limited to 49%. The original agreement to increase the stake from 26% to 49% was announced on March […]
Nippon Life Insurance, one of the largest life insurers in the world, has agreed to increase its stake in Reliance Life Insurancem a part of Reliance Capital Ltd from the existing 26 per cent to 49 per cent. The Japanese company will be investing an aggregate value of Rs 2,265 crore (US$ 348 million) to […]
