RELIANCE AMC gets follow on investment from Nippon Life

Even as Rel Com suffers from a $ 6.5 bln debt overhang , even witht he rupee holding, the condition of the group is precarious esp on Reliance Capital as a NBFC funding the group also. Rel Capital got a reprieve yet with Nippon Life agreeing to another high valuation, this time the mutual fund at 6.4%AUM and investing INR13.5 bln for a share of the business

At a valuation of slightly over $1 bln, the investment pays premium for Reliance’s dominant 12.5% share of Indian AUMs at the said 6.4%

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