Future Capital Holdings, a part of Kishore Biyani-led Future Group, said on Monday that it has acquired 50.1 per cent stake each in two companies - Centrum Direct and Centrum Wealth Managers - for about Rs 100 crore.
The stakes in the two firms were acquired on March 12 following the approval from the board of directors, it said in a filing with the Bombay Stock Exchange. Earlier this month, the company said it would invest about Rs 75 crore to acquire 50.1 per cent stake in Centrum Direct, which is engaged in foreign exchange money changing business. Further, the firm had announced that it would buy 50.1 per cent stake in Centrum Wealth Managers for about Rs 25 crore.
Centrum Wealth Managers would undertake activities of retail broking, including portfolio management services, distribution of financial and insurance products, among others. In late afternoon trade, shares of the company were trading at Rs 538, up 11.73 per cent on the BSE. - PTI
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