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Anil Ambani led Reliance Capital has signed up a deal with Japanese Nippon Life to evaluate collaboration across all financial sectors the company operates in. Anil Ambani expressed that Reliance Capital sees Nippon Life as a strategic and valuable partner. The two companies have already agreed to partner in Life Insurance business.
Nippon Life, a Fortune 100 company, is the single largest private life insurance company in Japan.
Reliance Capital operates in various business sectors and is ranked among first four private companies in financial services sector. The Asset Management Company is biggest in India. Reliance Capital AMC has a client base of more than 7 million.
In March this year, Nippon Life had agreed to buy 26% stake in Reliance Life Insurance for $680 million. The deal values the company at Rs 11500 crore or $2.6 billion.
Reliance Capital currently trades at Rs 379 on BSE, with a P/E ratio of 30 and market capital of Rs 9500 crore.