Reliance Capital: Deloitte approaches 43 entities to bid for Reliance Capital


Folks knowledgeable about this matter.

Amongst these contacted by Deloitte are HDFC Financial institution; SBI Life Insurance coverage; ICICI Lombard Common Insurance coverage; Monetary providers branches of business homes like Aditya Birla Group, Adani Group, Naveen Jindal Group and Hero Group; And based on these individuals non-bank finance corporations like Capri World. It has additionally sought suggestions from distressed debt funds like Cerberus, Oaktree Capital and

and India Resurgence Fund, a three way partnership of Bain Capital; world and native non-public fairness companies together with Blackstone, TPG, True North and Arpwood Capital; and Monetary Companies Group.

Others within the checklist embody asset reconstruction corporations, banks, insurers, non-bank finance corporations in addition to fintech corporations, the individuals stated.

The insolvency proceedings have been initiated after the Reserve Financial institution of India outdated the corporate’s board on November 30 final yr citing governance issues.

Deloitte, Reliance Capital’s RBI-appointed administrator Nageswara Rao Y.

As soon as the deadline for submission of Expression of Curiosity has been prolonged, it’s now March 25.

When contacted, Deloitte declined to remark, whereas Nageswara Rao didn’t reply to a request for remark. SBI Life, Adani, Hero, Aditya Birla Capital, Naveen Jindal Group, Capri World, Cerberus, True North, Arpwood Capital and Edelweiss didn’t reply to queries. HDFC Financial institution, ICICI Lombard and India RF couldn’t be reached for remark, whereas Oaktree Capital, Blackstone and TPG declined to remark.

The admin is claimed to have obtained 20 EOIs thus far. Based on individuals, some potential bidders had indicated their curiosity by the primary deadline of March 11. The monetary collectors of the corporate have filed claims value Rs 24,000 crore.



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