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Reliance Capital approves management buyout of 100% stake in Reliance Securities

Reliance Capital has approved management buyout of 100% stake in Reliance Securities. The existing Management Team of Reliance Securities group has entered into a binding agreement for buying out the Broking and Distribution business from Reliance Capital, subject to regulatory and other customary approvals.

Reliance Securities is 100% subsidiary of the company. Reliance Securities business includes Retail and Institutional broking, Third Party Distribution, Proprietary Trading and Structured Products.

Reliance Capital, a part of the Reliance Group, is one of India’s leading private sector financial services companies. It has interests in asset management and mutual funds; life, health and general insurance; commercial and home finance; stock broking; wealth management services; distribution of financial products; asset reconstruction; proprietary investments and other activities in financial services.