RCap Buys Futures Bourse Stake

The exchange business unit ofReliance Capital(RCap) has acquired a 26% stake in theIndian Commodity Exchange(ICEX),Financial Expressreports. TheReliance ADAGfirm has bought the stake fromIndiabulls Financial Services.

The financial details of the transaction were not disclosed by both the parties. Before the deal, the Indian infrastructure and financial services firm had 40% stake in the commodity futures exchange, which is now reduced to 14%.

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