Finance Reliance Capital to exit mutual funds business; sells stake to JV partner Nippon Life Insurance Updated : May 23, 2019 12:53 PM IST Both partners hold 42.88 percent each in the company, while the rest is with public shareholders. Reliance Capital said it has signed binding definitive agreements with Nippon Life Insurance of Japan. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.