Reliance Capital Limited (NSEI:RELCAPITAL) is planning to reduce debt by monetising stake in several valuable non-core investments. Reliance Capital announced its overall strategy to reduce its debt by approx. INR 100 billion –INR 120 billion in the next 3-4 months.

Reliance Capital plans to monetise its 43% stake in Reliance Nippon Life Asset Management Limited (NSEI: RNAM), which is currently valued at over INR 50 billion. The strategic sale of the controlling stake in RNAM is expected to be at a significant premium to market. Reliance Capital plans to monetise its 49% stake in Reliance General Insurance Company Limited (RGICL) (presently 100% owned).

Reliance Capital is at an advanced stage of monetising several valuable non-core investments, including inter alia, a strategic stake sale in Prime Focus Limited (BSE:532748) and other media assets.