Reliance Life completes 26% stake sale to Nippon

Reliance Life completes 26% stake sale to Nippon

The entire transaction proceeds of Rs 3,062 crore from Nippon Life Insurance have duly been received, the company said and pointed out that the transaction pegs the total valuation of Reliance Life Insurance at approximately Rs 11,500 crore.

Reliance Capital had signed a definitive agreement in March 2011 with Nippon Life Insurance to sell the 26 per cent stake in Reliance Life Insurance.

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