Nippon Life India Asset Management Ltd
Nippon Life India Asset Management Ltd (NAM-INDIA)

Nippon Life India Asset Management Ltd (NAM-INDIA)

₹271.81.47%

Key Stats

₹263.3
Day's Price Range
₹272.9
₹259
52-Week Price Range
₹476.45
1 Month Return-16.46 %
3 Month Return-13.39 %
1 Year Return-23.37 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 9
22.32
EPS
Rank 7
₹11.99
BVPS
Rank 13
₹50.29
Dividend Yield
Rank 3
2.37%
ROE
Rank 2
23.3%
Price To Book Ratio
Rank 11
5.32
Debt To Asset
Rank 13
0.09

Company Information

Reliance Nippon Life Asset Management Limited RNAM is one of the largest asset management companies in India managing directly indirectly assets across mutual funds pension funds managed accounts alternative investments and offshore funds. RNAM is the asset manager of Reliance Mutual Fund RMF Schemes. RMF has a pan India presence across 298 locations and over 71100 empanelled distributors. RNAM also has the mandates for fund management from Employees Provident Fund Organisation EPFO The Pension Fund Regulatory and Development Authority PFRDA as a Sponsor of the Pension Fund Manager and The Coal Mines Provident Fund Organisation CMPFO. As of March 31 2018 the Company had three subsidiaries. Two of such subsidiaries are overseas being one each in Singapore and Mauritius and one subsidiary being in India. All the subsidiaries of the Company are engaged in financial services and related activities.RNAM acts as an advisor for India focused Equity and Fixed Income funds in Japan launched by Nissay Asset Management Korea launched by Samsung Asset Management and in Thailand launched by BBL Asset Management. RNAM also manages offshore funds through its subsidiaries in Singapore and Mauritius and has representative office in Dubai thereby catering to investors across Asia Middle East UK US and Europe.Reliance Nippon Life is promoted by Reliance Capital Limited an RBI registered nonbanking finance company NBFC with business interests including in asset management and mutual funds life health and general insurance commercial and home finance stock broking wealth management services distribution of financial products asset reconstruction and proprietary investments. Reliance Capital Limited is a part of Reliance Group which has business interests in financial services telecommunications power energy infrastructure and defense. The Reliance Group is led by Mr. Anil D. Ambani one of Indias prominent business leaders. The Companys copromoter Nippon Life Insurance Company Nippon Life is one of the leading private life insurers in Japan. Nippon Life offers a wide range of financial products including individual and group life and annuity policies.Reliance Nippon Life Asset Management Limited was originally incorporated as a public limited company with the name Reliance Capital Asset Management Limited on February 24 1995 at Ahmedabad. Subsequently in accordance with the terms of the Second Amended Restated Shareholders Agreement dated October 13 2015 executed amongst the Company Reliance Capital and Nippon Life the name of the Company was changed to Reliance Nippon Life Asset Management Limited on May 5 2016. The company started mutual fund operations in 1995 as the asset manager for Reliance Mutual Fund. During the year under review Reliance Mutual Fund launched two schemes Reliance Growth Fund and Reliance Vision Fund.In 2004 RNAM commenced portfolio management services. During the year under review the company commenced offshore operations in Mauritius by setting up a wholly owned subsidiary Reliance Asset Management Mauritius Limited.In 2005 the company commenced offshore operations in Singapore by setting up a wholly owned subsidiary Reliance Asset Management Singapore Pte Limited.In 2008 the company executed a contract to provide discretionary portfolio management services to the Employees Provident Fund Organisation acting through its Central Board of Trustees.Reliance Capital Pension Fund Limited one of the Group Companies received a Certificate of Commencement of Business as a pension fund manager from the Pension Fund Regulatory and Development Authority PFRDA in 2009 and manages pension assets under the National Pension System NPS.In 2012 RNAM received the first tranche of investment from Nippon Life Insurance Company Japan.In 2014 the companys subsidiary Reliance AIF Management Company Limited was appointed as the manager to the Reliance Capital AIF Trust. During the year under review Reliance Mutual Fund launched a Japan focused openended diversified equity scheme under the name Reliance Japan Equity Fund.In 2015 RNAM entered into an investor advisory agreement with Samsung Asset Management Hong Kong Limited. During the year under review Reliance Mutual Fund launched equityoriented Retirement Fund. During the year under review Quarterly Average Assets under Management QAAUM of Reliance Mutual Fund crossed Rs 1.5 lakh crore.In 2016 the company acquired the asset management rights of 12 schemes being managed by Goldman Sachs Asset Management India Private Limited. During the year under review the company executed a contract to provide discretionary portfolio management services to the Coal Mines Provident Fund Organization acting through its Board of Trustees. During the year under review the companys subsidiary Reliance AIF Management Company Limited was appointed as the manager to the Reliance Event Opportunities Trust.In 2017 Quarterly Average Assets under Management QAAUM of Reliance Mutual Fund crossed Rs 2 lakh crore.RNAM came out with an initial public offer IPO during the period from 25 October 2017 to 27 October 2017. The IPO was a combination of fresh issue of 2.45 crore equity shares by the company and offer for sale of a total of 3.67 crore shares by promoter selling shareholders. The stock debuted at Rs 294 on BSE on 6 November 2017 a premium of 16.66 compared to the IPO price of Rs 252 per share.On 11 October 2018 Reliance Nippon Life Asset Management Limited RNAM announced that it has received mandate from the Employees State Insurance Corporation ESIC to manage its funds. RNAM already manages mandates from Employees Provident Fund Organization EPFO The Coal Mines Provident Fund Organization CMPFO and The Pension Fund Regulatory and Development Authority PFRDA thus becoming the only asset manager to manage all the four prestigious mandates.On 20 November 2018 Reliance Mutual Fund RMF announced Further Fund Offer 3 FFO3 of its Central Public Sector Enterprises Exchange Traded Fund CPSE ETF. This FFO3 is part of the Government of Indias overall disinvestments program announced earlier by the Department of Investment and Public Asset Management DIPAM Ministry of Finance using the ETF route.On July 13 2017 Nippon Life Insurance Company NLI an existing equity shareholder holding 44.57 stake in the Company acquired an additional 4.43 stake by way of purchase of equity shares from Reliance Capital Limited RCL. Post this acquisition the equity stake of NLI in the Company was increased to 49.00 and subsequently NLI was also classified as one of the Promoters of the Company along with RCL.During the year 201718 the Company had allotted 576000000 number of fully paid up equity shares of face value of Rs.10/ each in August 2017 to the Members of the Company in proportion of 1:50.During the year 201718 the Company came out with its initial public offering IPO and diluted the 10 post issue capital in favor of the public. Both the promoters of the Company i.e. RCL and NLI also participated in the IPO by way of an offer for sale component and diluted part of their holdings in favor of the public. The total IPO size was Rs.1542.24 Crores out of which the Company raised Rs.616.89 Crores as primary subscription and the remaining proceeds of Rs.925.37 Crores were towards offer for sale.During the year 201718 the Company has redeemed all the outstanding 3000000 number of preference shares which were issued by the Company in the previous years.During the year 201718 Reliance Capital Pension Fund Limited ceased to be a subsidiary of the Company and became Companys associate company.
OrganisationNippon Life India Asset Management Ltd
HeadquartersMumbai
IndustryFinance