Reliance Capital Limited (NSEI:RELCAPITAL) on May 28, 2019 said it has exercised the "Green-Shoe" option in its ongoing Offer for Sale (OFS) and will sell over 8% of its shareholding in Reliance Nippon Life Asset Management Limited (RNAM) via this route aggregating about INR 11 billion. The entire RNAM stake monetization proceeds of about INR 60 billion (about $860 million) to be received from the OFS and the already announced transaction with Nippon Life Insurance company of Japan will be utilised to reduce Reliance Capital's outstanding debt.