Mumbai: Future Capital Holdings, the financial services arm of Kishore Biyani-promoted Future Group, will be infusing Rs 100 crore for purchasing majority stakes in two subsidiaries of investment banking firm Centrum Capital. The board of directors of Future Capital has cleared an investment of Rs 75 crore in Centrum Direct Ltd, a wholly owned subsidiary of Centrum Capital and which is engaged in foreign exchange money changing business. Future Capital will be acquiring a 50.1 per cent stake in Centrum Direct with this investment. The board also cleared an investment in Centrum Wealth Managers Ltd, a company that will take on activities of retail broking and distribution of financial and insurance products, to the tune Rs 25 crore to pick up 50.1 per cent stake.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment