Online edition of India's National Newspaper
Wednesday, Feb 15, 2006
Online edition of India's National Newspaper Wednesday, Feb 15, 2006 |
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NEW DELHI: The Anil Ambani-controlled Reliance Capital on Tuesday acquired 44 per cent stake in the Bangalore-based courier and express company, DTDC, for an undisclosed amount. The management of the company would continue to be in the hands of DTDC Chairman and Managing Director, Subhashish Chakraborty, who has retained the remaining 56 per cent stake, DTDC said in a statement. The announcement comes within hours of Reliance Capital Ventures, which is proposed to be merged with Reliance Capital Ltd (RCL), saying that it has filed a revised information memorandum with the stock exchanges for listing the company on the bourses. Commenting on the deal, Reliance Capital Head-Private Equity, Srinath Srinivasan, said: "Reliance Capital believes that this industry is poised for mega growth and a third party logistic is becoming important as India's retail sector gets more and more organised." DTDC has a strong network of 3,700 franchisees. — PTI
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