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Birla Global exits broking

Mumbai, Oct. 27: Birla Global Finance Ltd, the leading non-banking finance company, today announced that it has sold 51 per cent stake comprising 30.60 lakh equity shares in its subsidiary, Birla Sun Life Securities, to J V Gokal Securities Pvt Ltd for Rs 4.8 crore.

Birla Global had put the broking business on the selloff block for some time.

Its foreign partner, Sun Life, had informed earlier that it wanted to exit the broking business. Birla Global also felt likewise and a search was on for a buyer.

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