Ahmedabad-based Torrent, PiramalCosmea Financial Holdings. Oaktree Capital Management, and Hinduja group have submitted binding bids for bankrupt Reliance Capital as the deadline for final offers expired on Monday.
No separate bid was received for Reliance Capital's life insurance and general insurance ventures, according to banking sources.
In the Piramal-Cosmea bid, the Piramal group's liability is limited to Reliance General Insurance and Reliance Health Insurance only, while Cosmea will acquire the rest of the businesses if it wins the race, the source said.
UV Special Situations Fund, too, made an offer for the entire firm on a fee basis with a rider that it would sell Reliance Capital's assets and then repay lenders.
This story is from the November 30, 2022 edition of Business Standard.
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This story is from the November 30, 2022 edition of Business Standard.
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