Wednesday, July 22, 2009

May go for IPO, stake sale of insurance biz: Rel Cap

Reliance Capital aims to be a world-class financial enterprise, it chairman Anil Ambani today said at its annual general meeting. “Our focus has shifted from gaining market share to profitability,” he said.
Ambani added that the company was considering various options to unlock value in the insurance business, and that it was likely to go for stake sale, IPO of its insurance business.

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