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Aditya Birla completes buyout of Apollo Sindhoori

Neeta Aurora 11 March 2009

Aditya Birla Nuvo, a diversified conglomerate, has notified that it has completed the acquisition of 76 per cent stake in the retail broking firm of the Apollo Hospitals Group.

The group bought 56 per cent in Apollo Sindhoori Capital Investment from the promoters and another 20 per cent through an open offer.

The acquired company is a leading player in the financial services sector with over 10 years of experience in the share broking business. The firm's principal activities are providing financial services, stock broking, commodity broking and related activities.

Apollo Sindhoori has a network of over 221 own and 687 franchisee branches, to cater to a customer base in excess of 175,000.

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