Union Bank of India
Nippon India Mutual Fund entered Union Bank of India with a new 1.06% stake, acquiring 8,06,01,784 shares.
A public sector bank providing comprehensive banking services across retail, corporate, and government segments in India. Union Bank of India offers merchant banking, agency services, insurance products, mutual funds, and wealth management solutions to individual and institutional clients. The bank operates as a full-service financial institution with a wide network serving diverse customer needs across the country.
India's fifth-largest AMC with over Rs 6 lakh crore in AUM, backed by Japan's Nippon Life Insurance which holds majority stake. Formerly Reliance MF, rebranded in 2019 after Nippon's acquisition. Sailesh Raj Bhan has run the equity book for over two decades and is one of India's most experienced active managers. Known for sector rotational calls and a deep research bench.