Reliance Capital
Asset Management Ltd, the mutual fund arm of the Anil Ambani-controlled
Reliance Group, may sell a 26% stake to Japan’s Nippon Life Insurance
Co. Two Reliance Group officials said that the companies are in advanced
talks and the transaction may be clinched at a valuation of up to
Rs4,000 crore, which would be a record for a mutual fund stake sale.
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