Reliance Capital has agreed to acquire 100 per cent of the equity share capital of Travelmate Services (India), a wholly owned subidiary of the Kuoni Group.
According to the release issued by Reliance Capital to the Bombay Stock Exchange, the proposed acquisition will mark the immediate entry of the company in the area of money changing and money transfer, in India, one of the world's fastest growing markets.
Travelmate Services, headquartered in Mumbai, has 36 offices, 2900 agents and 91 employees across the country.