Reliance Capital has announced the completion of 21.54% stake sale in its mutual fund arm RNAM to joint venture partner Japan’s Nippon Life Insurance for ₹3,030 crore. The firm will further monetise its balance 4.28% stake in Reliance Nippon Life Asset Management (RNAM) worth ₹700 crore, Reliance Capital said. The entire RNAM stake monetisation proceeds of ₹6,200 crore will be utilised to reduce Reliance Capital’s debt obligations.