Reliance Capital is in advanced talks to sell stake in its asset management company to Japan's Nippon, according to several media reports. Reliance Capital had recently sold 26 per cent stake in Reliance Life Insurance to Nippon Life.
Further, Reliance Capital may also look at a strategic stake sale in Reliance General Insurance. Anil Ambani has reportedly said at the company's annual shareholder meeting, “We hope in the next few months we will have definitive news on that entire exercise (stake sale)."
The company is looking at exploring the other sector where it is still not present. "Banking is a new growth opportunity. We will evaluate opportunities to enter this high growth sector and are keeping track of all regulatory developments on this front," Ambani reportedly said.
The Reserve Bank had announced in August that it would allow private sector companies that do not have large exposure in the real estate, construction or broking sectors to apply for licenses to set up banks.
