Reliance Capital has got Rs 378 crore from Nippon Life Insurance as the Japanese firm has increased its stake in their asset management business to 49 percent.

Reliance Capital, the Anil Ambani group firm will be booking capital gains on this final transaction in the quarter ending September 30, 2017.

Reliance Nippon Life Asset Management (RNAM) had as on March 2017, an asset base of Rs 3.6 lakh crore (about USD 55 billion).

It said in a statement that ‘Reliance Capital, the holding company of Reliance Nippon Life Asset Management, received Rs 378 crore from Nippon Life Insurance.”

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