Nippon Life India Asset Management has signed a definitive agreement with One Place Commercials to purchase commercial office space in Lower Parel, Mumbai, for Rs 486 crore. The new office, situated at One Lodha Place in Lower Parel, covers a carpet area of 52,162 square feet.
The acquisition, costing Rs 486 crore excluding applicable stamp duty, involves no shareholding ties with the seller, and is not classified as a related party transaction.
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NAM India, the asset manager of Nippon India Mutual Fund (NIMF), specializes in managing mutual funds, including exchange-traded funds (ETFs), managed accounts such as portfolio management services (PMS), alternative investment funds, pension funds, offshore funds, and advisory mandates.
