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Nippon Life cleared to set record Foreign Direct Investment in India

By  |  May 17, 2012

The Competition Commission of India (CCI) has approved Nippon Life’s proposed acquisition of a 26 percent share in RCAML. RCAML is Reliance Capital’s mutual fund business. The deal, valued at Rs 1,450 crore (approximately $290 million), sets the record for the largest Foreign Direct Investment deal in an Indian asset management company. Nippon Life holds a 26 percent equity share in Reliance Life Insurance Company, a subsidiary of Reliance Capital.

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