|
Mumbai: Anil Dhirubhai Ambani Group’s financial services arm Reliance Capital on Friday said it would acquire brokerage and equity research firm Quant Capital, but did not disclose the financial details of the deal. Following the acquisition, operations of Quant Capital will be integrated with that of Reliance Equity International Ltd, a wholly owned subsidiary of Reliance Capital.
Quant Capital, incorporated in December 2007, began its operations in May 2008. The company employs more than 100 professionals and has significant presence in both the foreign and domestic institutional markets.
“Reliance Capital has proposed to take a majority stake in Mumbai-based Quant Capital Group. The existing management team at Quant Capital will continue to be responsible for its operations,” the ADAG firm said. When asked to comment on financial details of the deal, a company spokesperson declined to speak.
Reliance Capital aims to achieve benefits like business synergies, cost optimisation and increased scale of operations after integrating the acquired entity with its subsidiary Reliance Equity International. The deal is subject to necessary regulatory approvals.
Quant Capital primarily focuses on institutional cash equities and equity derivatives business. Besides, traditional fundamental research, it also combines quantitative and behavioral research to forecast trends and inflection for global currencies, commodities and equities.
Reliance Capital has interests in asset management, mutual funds, life and general insurance, private equity and proprietary investments, brokerage, depository services, distribution of financial products, consumer finance and activities in the financial services segment.
Discuss this story on expressindia forums
|
|
 |
 |
 |
About Us | Contact Us | Advertisers | Site Map | Make us your homepage | Work for Us | RSS | Subscribe | Electronic Edition | Privacy Policy© 2010: The Indian Express Limited. All rights reserved throughout the world
