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Centrum Capital unit to sell stake in CentrumDirect

India's Centrum Capital Ltd. unit Centrum Retail Services Ltd. is selling a minority stake in CentrumDirect Ltd. to NYLIM Jacob Ballas India Holdings IV and Jacob Ballas Capital India Pvt. Ltd.

The board of Centrum Retail Services approved the proposed sale, which is subject to regulatory approvals.

The company did not provide additional details about the stake sale.