The open offer from Nippon Life Insurance Company to the shareholders of Reliance Nippon Life Asset Management opens on Tuesday and closes on August 6. The company plans to acquire up to 25.33 per cent stake (or 15.57 crore shares) in the latter’s expanded voting share capital at ₹230 a share. The open offer was mandatory, as Reliance Capital in May had announced exit from the mutual fund business by selling its stake in RNAM to its joint venture partner Nippon Life.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.