Reliance Capital’s arm sell stake in Menon and Menon

Reliance Capital’s 100% subsidiary — Reliance Corporate Advisory Services has sold 15,60,000 equity shares held in an unlisted company namely Menon and Menon, representing 19.50% of paid-up equity share capital, for an aggregate consideration of worth Rs 23 crore.

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.