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Japanese firm Nippon to hike stake in Reliance Capital AMC to 49%

Nov 26, 2014    

Japanese financial services giant Nippon will hike its stake in India's top fund house Reliance Mutual Fund from 26 percent to 49 percent, while investing Rs 657 crore for the first tranche of nine percent.

The first tranche values Reliance Capital Asset Management Company (RCAM), which runs Reliance MF, at Rs 7,300 crore, as per the deal announced today.

Nippon would eventually up its stake to 49 percent in multiple tranches at prices to be determined on the basis of future prevailing assets and profitability of the company that are expected to be higher than the cur...

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