Videocon exits insurance biz, sell entire stake to Diamond Dealtrade, Enam

The company said it had received the necessary regulatory approvals for rebranding

Videocon exits insurance biz; sells stake to DP Jindal Grp, Enam Securities

Sells its entire stake in its JV with Liberty Mutual Insurance Group to Diamond Dealtrade, Enam Securities

Videocon Industries has sold its stake in the joint insurance venture Liberty Videocon General Insurance Company to reduce the debt it has accrued over the past few years.

Videocon had a 51.32 per cent stake in the venture, alongside the United States-based Liberty Mutual Insurance Group. Videocon, on Tuesday, informed the stock exchanges of the sale of its entire stake in the venture, selling 26 per cent to DP Jindal Group’s Diamond