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Nippon Life acquires nine percent stake in RCAM

Published

10 years ago

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Reliance-Capital

Chennai: Japanese life insurance major Nippon Life Insurance has acquired an additional nine percent stake in Reliance Capital Asset Management (RCAM) for Rs.657 crore ($108 million), Reliance Capital Ltd said Friday.

Following this. Nippon Life’s holding in RCAM goes up to 35 percent from 26 percent.

In a regulatory filing with Bombay Stock Exchange (BSE), Reliance Capital said Nippon Life, the seventh largest life insurer in the world, has completed acquisition of nine percent additional stake in RCAM.

Part of Reliance Capital, RCAM’s enterprise value is pegged at around Rs.7,300 crore ($1.2 billion) following the latest transaction.

According to Reliance Capital, the entire transaction proceeds of Rs 657 crore (US$ 108 million) for this additional nine per cent stake has been duly received from Nippon Life.

The Japanese insurer has agreed to hike its holding in RCAM to 49 percent in two or more tranches.

It had earlier acquired 26 percent stake for around Rs.1,450 crore ($240 million).

“We are happy to strengthen our partnership with Nippon as they increase their stake in RCAM from existing 26 to 35 percent in first tranche,” Sam Ghosh, CEO, Reliance Capital was quoted as saying in the statement.

“We believe their expanded role in the company will accelerate our growth, reach and performance in India and also help us in our global presence,” he added.

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Apple is giving a huge discount on its gadgets: Details inside

Published

2 years ago

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May 5, 2022

By

If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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