Reliance Capital buy stake in DTDC Courier & Cargo

Financial services firm Reliance Capital has announced their decision to acquire 44 percent of courier firm DTDC Courier & Cargo Ltd. The deal is worth around $16 million and was confirmed by DTDC’s joint managing director Debasish Chakraborty.

A division of Reliance Capital, Reliance Private Equity picked the stake. DTDC is run by two brothers Subhasish and Debasish Chakraborty and the company acquired the stake of Debasish. The rest of the company would continue to be owned by Subhasish Chakraborty.

DTDC is a pretty profitable business entity and had revenues of 1.25 billion rupees last year. The profits stood at around 86 million rupees. The company is now aiming at revenue figures of 1.5 billion rupees with profits of 130 million rupees this year.