Moneycontrol > News > Mutual Funds

Jan 19, 2012, 01.41 PM IST

Nippon Life to invest Rs 1335 cr in Rel AMC

Nippon Life has said it will invest Rs 1335 crore in Reliance AMC . The deal is valued at 6.4% of Reliance MF's assset under management (AUM).

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Japan's Nippon Life has said it will invest Rs 1335 crore in Reliance AMC, which is the mutual fund arm of  Reliance Capital. The deal has been valued at 6.4% of Reliance MF's Assset Under Management. Experts say the deal has been fairly valued and this will help Reliance Capital going forward. Following the deal, Reliance Capital shares shot up 3.5% to Rs 329.


Sources say that the money received from the deal will be used to pay off debt, which will be down to Rs 15,000 crore from Rs 20,000 crore.


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