India: Reliance Capital to sell 100% stake in Reliance Securities in management buyout

India: Reliance Capital to sell 100% stake in Reliance Securities in management buyout

Anil Ambani-controlled Reliance Capital Ltd on Friday said that the existing management team of its broking business – Reliance Securities group – has entered into a binding agreement for buying out the broking and distribution business from Reliance Capital, the company said in a stock exchange filing.