Anil Ambani’s Reliance Capital hit the upper circuit in early trade today. There have been reports in the media that Adani Finserve, KKR, Piramal Finance and Poonawala Finance are among the 14 bidders. who have shown their interest in buying the company.
Reliance Capital shares saw an upper circuit on BSE today. Around 10.33 pm, this stock was seen with a gain of 4.97 per cent at Rs 14.37.
Explain that Reliance Capital has invited Expression of Interest (EOI) as part of its insolvency resolution process. For this, the last date for submission of bids has been extended to March 25, which was earlier March 11, 2022.
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According to media reports, apart from the companies mentioned above, ArpWood, Varde Partners, Multiples Fund, Nippon Life, JC Flowers, Brookfield, Oaktree, Apollo Global, Blackstone, and Hero Fincorp have also made their bid to buy Reliance Capital. .
According to information received from sources, the bidders have been given two options under which they can buy the entire Reliance Capital or can buy any one of the company’s 8 subsidiaries. Sources said that most of the bidders have made bids to buy the entire company.
RBI-appointed Nageswara Rao Y has been appointed to conduct the corporate insolvency resolution process of Reliance Capital.
Explain that Reliance Capital has a total debt of Rs 40,000 crore. RBI had applied for initiation of CIRP against Reliance Group in the National Company Law Tribunal (NCLT) Mumbai Bench. Under which this process is going on.
Reliance Capital’s subsidiaries that are subject to insolvency resolution include Reliance General Insurance, Reliance Nippon Life Insurance, Reliance Securities, Reliance Asset Reconstruction Company, Reliance Home Finance, and Reliance Commercial Finance.
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