Anil Ambani-controlled Reliance Capital today acquired 44% stake in Bangalore-based courier and express company DTDC for about Rs 70 crore."The total valuation of the company was around Rs 170 crore on last year's balance sheet, and the deal was close to Rs 70 crore," DTDC chairman and managing director Subhasish Chakraborty said from Bangalore.Chakraborty, who has retained 56% stake, will continue to have management control of the company although Reliance may have some representatives at the board level.The latest acquisition by Reliance Capital comes after it bought 51% stake in entertainment company Adlabs Films for Rs 360 crore and insurance firm AMP Sanmar Life Insurance, now renamed Reliance Life Insurance, for about Rs 100 crore."Reliance Capital, apart from its investment, also endorses DTDC's unique business model. The alliance is also expected to bring a lot of value addition to the company. We chose Reliance Capital because of their professional approach, and speed of implementation," Chakraborty said.
