Indian mutual fund industry is boosted up when the world’s largest life insurers company Nippon Life has increased its stake in Reliance Capital Asset Management (RCAM) to 49% from 35%.
- Osaka, Japan headquartered Nippon life is investing Rs.1196 crore for additional 14% stake.
- This investment raised the total valuation of RCAM at approximately Rs. 5,600 crore ($920 million).
- This is the largest foreign investment in the mutual fund industry in India.
- This Japanese insurer also has a holding of 26% in Reliance Life Insurance.
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