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Will the bet to buy out Reliance Capital’s stake in asset manager RNAM pay off for Nippon Life?Nippon Life has just upped its stake to 75% in RNAM, allowing Anil Ambani-promoted Reliance Capital an exit from the mutual funds business.- Shares sold at low price to deleverage promoter cos: YES BankThe shares were pledged by Rana Kapoor to support the borrowings of MCPL.
- RNAM directs trustees to sell remaining pledged shares of Rana Kapoor in YES BankKapoor has pledged shares of Yes Bank to RNAM, asset manager of Reliance MF, as collateral.
- Buy RNAM, target Rs 300: CLSABuy Reliance Nippon Life Asset Management at a price target of Rs 300.
- YES Bank falls despite promoter repaying debt to RNAMThe payment of Rs 792 crore constitutes a "substantial portion" of the outstanding NCDs.
- Stocks in the news: ZEEL, IIFL Wealth, RNAM, Axis Bank, Nalco and Bharti AirtelReliance Capital said no pledged shares of RNAM have been invoked by any lender.
- RNAM retail quota subscribed 24%; SBI Life institutional bids at 15%RNAM saw institutional investors bids 1.3 times the institutional quota on Day 1 on Wednesday.
- Stocks in the news: SBI Life, Alkem Labs, RNAM, CG Power and Tata MotorsCash-strapped CG Power has failed to raise working capital loans as banks are reluctant to lend.
- Reliance Nippon could offer up to 8% arbitrage gains at buyback in JulyThe offer will open on July 16 and close on July 29 subject to regulatory approvals.
- Can Nippon takeover of RNAM be a win-win deal for investors?A takeover or buyout of a fund house usually has no bearing on mutual fund investors.
- Reliance Capital to exit MF biz, use funds to cut debtRNAM will continue to remain a public limited company after the open offer.
- Reliance Capital to monetise stakes in MFs, cover companiesThe company ranks tenth with 3.82 per cent market share.
- Reliance Cap invites Nippon Life to buy it out of MF JVLast fiscal, RNAM made a net profit of Rs 522 crore.
- Buy Reliance Nippon Life Asset Management, target Rs 314: Emkay Global Financial ServicesBuy Reliance Nippon Life Asset Management Ltd. at a price target of Rs 314.0 .
- Reliance Nippon AMC plans first dividend post listingReliance Nippon Life Asset Management (RNAM) will consider its first interim dividend post listing at its board meeting next week.
- Rakesh Jhunjhunwala among marquee investors who bid for Reliance Nippon Life IPOThe combined bids from the marquee investors are believed to be around Rs 550 crore.
- Reliance Nippon AMC IPO oversubscribed 81.5 timesTill Thursday, the IPO was oversubscribed 7.45 times.
- Reliance Nippon Life AMC IPO subscribed 7.46 times on Day 2The issue has received bids for 20,76,32,151 shares compared with the total issue size of 4,28,40,000 shares.
- Reliance Nippon AMC garners Rs 462 crore from anchor investorsIt will be the first initial share sale by a major asset management company in India.
- Reliance Nippon AMC sees Rs 15,000 crore demand from anchor investorsAnil Ambani-led Reliance Group's asset management arm is expected to see a huge demand of over Rs 15,000 crore from anchor investors.
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