Nippon Life makes submission for re-classification of Reliance Capital to Public category

Nippon Life India AMC has made submission to the exchanges with respect to the re-classification of Reliance Capital from the ‘Promoter and Promoter Group’ category to ‘Public’ category, after receiving approval from shareholders and SEBI.

“We refer the resolution passed and adopted by our board of directors on July 27, 2020. We also refer to our subsequent letter dated September 9, 2020 along with the SEBI approval letter dated September 8, 2020 mentioning that the company may also obtain a shareholders approval to the re-classification of Reliance Capital Limited (RCAP).

Accordingly, the company has already successfully obtained the said shareholder’s approval through postal ballot, the voting results whereof were recently declared on October 27, 2020, for the re-classification of RCAPs shareholding in the Company from Promoter and Promoter Group to Public category,” company informed the exchanges on Tuesday.

Source: Indiainfoline

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