Nippon Life India AM to Confirm Interim and Final Dividends at 29th AGM

Nippon Life India Asset Management Limited has announced its plans for the Twenty-Ninth 29th Annual General Meeting (AGM), scheduled for Friday, July 12, 2024, at noon IST. The meeting will be conducted via Video Conferencing (VC) / Other Audio Visual Means (OAVM).

The agenda includes several key items under Ordinary Business, such as shareholders will deliberate on confirming the payment of Interim Dividend amounting to I 5.50 per Equity Share and declaring a Final Dividend of I 11 per Equity Share for the financial year 2023-24.

And also adoption of the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2024. Additionally,the AGM will address the Reappointment of a director Mr. Minoru Kimura (DIN: 07497568), who retires by rotation as per the Companies Act, 2013.

The company has facilitated electronic voting (e-voting) for its members, with detailed instructions available in the Notice accompanying the Annual Report, sent electronically to all members.

Access the Report here. 

Nippon Life India Annual Report 2023 - 24

Nippon Life India Asset Management Limited has unveiled its Annual Report for the fiscal year 2023-24, outlining a strong performance and strategic initiatives. Established in 1995, the company has become a key player in India's asset management industry.

As of March 31, 2024, Nippon Life India manages a substantial ₹5.24 lakh crore in Total Assets Under Management (AUM). This includes a diverse range of investment products such as Mutual Funds, Managed Accounts (including Alternative Investment Funds and Portfolio Management Services), and Offshore Business segments, amounting to ₹4,31,332 crore, ₹79,075 crore, and ₹13,421 crore respectively.

The company's mission centers on enhancing financial literacy and promoting prosperity across India. It aims to achieve this through a robust, performance-driven, and socially responsible ecosystem.

Supported by its parent company, Nippon Life Insurance Company of Japan, which holds a significant 72.9% stake, Nippon Life India continues to expand its footprint in the Indian market. Nippon Life Insurance Company, a leader in Japan's insurance sector with assets exceeding JPY 97 trillion, provides crucial backing and strategic guidance to Nippon Life India's operations.

Looking forward, Nippon Life India is focused on further penetrating India's domestic life insurance market and exploring growth opportunities globally. The company aims to capitalize on emerging trends and technologies to deliver superior value to its investors and stakeholders.

With a commitment to innovation and excellence, Nippon Life India remains poised for continued success in driving financial empowerment and building a sustainable future in India's financial landscape.

Nippon Life India Asset Management 

Nippon Life India Asset Management Limited, formerly known as Reliance Nippon Life Asset Management Limited, has solidified its position as a prominent asset manager in India following its rebranding in January 2020.

Backed by Nippon Life Insurance Company, a leading entity in Japan's life insurance industry, which holds a substantial 72.86% stake, Nippon Life India manages equity shares listed on both BSE Limited and National Stock Exchange of India Limited.

The company operates under stringent regulatory frameworks and serves as the Asset Management Company (AMC) for Nippon India Mutual Fund (NIMF), complying with SEBI regulations for mutual funds and portfolio management services.

With a strategic focus on diversification and global reach, Nippon Life India also operates subsidiaries like Nippon Life India AIF Management Limited and Nippon Life India Asset Management (Singapore) Pte. Ltd. These entities bolster its capabilities in managing alternative investment funds and extending advisory services to international clients.