Birla Capital & Financial Services has entered into an agreement to sell its stake in two subsidiary companies - Birla Gold and Precious Metals and Birla Financial Distribution. Consequential, both the subsidiaries will cease to be the subsidiary of Birla Capital & Financial Services. The board of directors at their meeting held on September 25, 2014 has passed the resolution for the same.
Birla Capital & Financial Services is part of the Yash Birla Group that has diversified interest in sectors like auto & engineering, textiles & chemicals and power & electricals, education & IT. It has been granted a merchant-banking license by the Securities and Exchange Board of India.
