Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. India
  4. NSE India Stock Exchange
  5. Nippon Life India Asset Management Limited
  6. News
  7. Summary
    NAM-INDIA   INE298J01013

NIPPON LIFE INDIA ASSET MANAGEMENT LIMITED

(NAM-INDIA)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Nippon Life Insurance Company made an offer to acquire additional 25% stake in Reliance Nippon Life Asset Management Limited from public shareholders for INR 35.2 billion.

05/23/2019 EST

Nippon Life Insurance Company (‘Nippon’) made an offer to acquire additional 14.7% stake in Reliance Nippon Life Asset Management Limited (NSEI:RNAM) (‘RNAM’) from public shareholders for INR 20.7 billion on May 23, 2019. Nippon will offer to acquire up to 89.95 million shares at the price of INR 230 per share payable in cash. In a concurrent and related transaction, Nippon signed a binding agreement to acquire a 32.13% stake in RNAM from Reliance Capital Limited. Nippon has made an aggregate cash deposit of INR 4 billion. On May 30, 2019, Nippon announced that it will acquire 138.2 million shares representing an approximately 22.49% stake in RNAM for INR 31.8 billion. On July 17, 2019, Nippon announced a revised offer to acquire 155.7 million shares which includes 2.7 million stock options if these get converted on closing at INR 230 each. Upon completion of the offer and related transaction, Nippon shall hold a 75% stake in RNAM. The source of funds for Nippon is internal accruals of INR 36.8 billion. Nippon and Morgan Stanley India Company Private Limited have entered into an escrow agreement with IndusInd Bank Limited in connection with the transaction. The transaction is subject to receipt of approvals from Competition Commission of India (‘CCI’), Securities & Exchange Board of India, and Bank of India. As on June 7, 2019, there are no statutory approvals required to implement the open offer. The offer is not subject to any minimum level of acceptance. The Securities & Exchange Board of India approved the deal on July 11, 2019. The CCI approved the transaction on July 18, 2019. A committee comprising independent Directors of RNAM advised shareholders to evaluate the offer and take an informed decision about tendering the share. Offer will open on July 16, 2019 and close on July 29, 2019. The offer period was subsequently extended to August 5, 2019. The proceeds will be used in reducing outstanding debt. Rahul Jain and Satyam Singhal of Morgan Stanley India Company Private Limited served as manager to the tender offer on behalf of Nippon. M Murali Krishna of Karvy Fintech Pvt Ltd. acted as registrar for the offer on behalf of Nippon. Pratik Gupta and Audrius Critchley of Deutsche Equities India Private Limited acted as broker to Nippon. Khaitan & Co. acted as legal advisor to Nippon Life Insurance Company.


ę S&P Capital IQ 2019
All news about NIPPON LIFE INDIA ASSET MANAGEMENT LIMITED
10/28Nomura Adjusts Nippon Life India Asset Management's Price Target to 470 Indian Rupees F..
MT
10/26Nippon Life India Asset Management Limited Reports Earnings Results for the Second Quar..
CI
10/26Nippon Life India Asset Management Limited Declares Interim Dividend, Payable on and fr..
CI
07/20NIPPON LIFE INDIA ASSET MANAGEMENT : Nomura Adjusts Nippon Life India Asset Management's P..
MT
07/19Nippon Life India Asset Management Limited Reports Earnings Results for the First Quart..
CI
06/22Nippon Life India Asset Management Limited Approves Final Dividend for the Financial Ye..
CI
06/21Nippon India Mutual Fund Appoints Hideaki Masago as Deputy Chief Risk Officer
CI
05/28Nippon Life India Asset Management Limited Recommends Final Dividend for the Financial ..
CI
05/08Tranche Update on NIIT Limited's Equity Buyback Plan announced on December 24, 2020.
CI
04/29NIPPON LIFE INDIA ASSET MANAGEMENT : Nomura Adjusts Nippon Life India Asset Management's P..
MT
More news
Analyst Recommendations on NIPPON LIFE INDIA ASSET MANAGEMENT LIMITED
More recommendations
Financials
Sales 2022 15 440 M 206 M 206 M
Net income 2022 7 258 M 96,8 M 96,8 M
Net cash 2022 3 793 M 50,6 M 50,6 M
P/E ratio 2022 32,0x
Yield 2022 2,30%
Capitalization 232 B 3 096 M 3 089 M
EV / Sales 2022 14,8x
EV / Sales 2023 13,3x
Nbr of Employees 705
Free-Float 22,6%
Chart NIPPON LIFE INDIA ASSET MANAGEMENT LIMITED
Duration : Period :
Nippon Life India Asset Management Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NIPPON LIFE INDIA ASSET MANAGEMENT LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 372,65 INR
Average target price 453,42 INR
Spread / Average Target 21,7%
EPS Revisions
Managers and Directors
Sundeep Sikka Chief Executive Officer & Executive Director
Prateek Jain Chief Financial Officer
Muneesh Sud Chief Legal & Compliance Officer
Nilufer Shekhawat Secretary & Compliance Officer
Ameeta Chatterjee Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
NIPPON LIFE INDIA ASSET MANAGEMENT LIMITED25.30%3 031
BLACKSTONE INC.118.25%101 084
KKR & CO. INC.83.87%43 554
LEGAL & GENERAL PLC5.90%22 152
THE CARLYLE GROUP INC.73.95%19 495
AMUNDI9.96%16 759