Reliance MF renamed Nippon India Mutual Fund post Japan firm's takeover

Reliance Mutual Fund has been rebranded as Nippon India Mutual Fund following its acquisition by Japan's Nippon Life Insurance. CEO Sundeep Sikka will continue to lead the company with its existing management team. Nippon Life has invested ₹7,800 crore to increase its holding in the mutual fund company to 75% after initially acquiring a 26% stake in 2012.