 "Reliance Capital")
Indicating lukewarm response for the assets of Reliance Capital (RCap), four companies — IndusInd, Torrent, Oaktree Capital Management, and B-Right Realestate — have made financial bids for RCap as an entire company, with all bids around Rs 4,000 crore, signalling massive haircut for banks if approved by a lender’s committee.
Piramal Enterprises, Zurich Insurance, and Advent International have placed bids for Reliance General Insurance, while there were no takers for the life insurance arm, informed banking sources.
Naveen Jindal-owned Jindal Steel & Power and UV Asset Reconstruction Company (ARC) have submitted bids for RCap’s ARC business.
For other assorted assets of RCap, three
