IndusInd International Holdings (IIHL), the investment arm of the Hinduja Group and Torrent Investments, a part of the Torrent Group are the only bidders now left in the race to acquire the assets of the insolvent Reliance Capital.
In fact, following its revised offer for the assets of Anil Ambani-promoted Reliance Capital, IIHL has emerged the highest bidder with a bid value of Rs 10,000 crore, which includes an upfront cash offer of Rs 9,000 crore, according to people in the know.
Earlier, at the e-auction held by the Committee of Creditors on December 21, 2022, Ahmedabad-based Torrent had submitted the highest bid Rs 8,640 crore, followed by Rs 8,110 crore by IIHL. More on the developments in the resolution process later.
The bidding process apart, a more pertinent question though is: whom should the assets of Reliance Capital ideally go to? Here is a comparison of the financial and business complementarities of the two suitors with Reliance Capital.
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