Anil Ambani's Reliance Capital gets 10 more bids for subsidiaries

Reliance Capital (RCL), part of the debt-ridden Anil Ambani-promoted Reliance Group, has received 10 more bids, including from SBI Life, for its subsidiaries, sources said. 

Earlier this month, the Committee of Debenture Holders had extended the last date for submission of expression of interest (EoI) to December 17, 2020. Following this, 10 new bids have come in for Reliance Capital's assets, taking the total number of bids to 70, the sources said. 

State Bank of India's subsidiary SBI Life has also shown interest in picking up Reliance Capital’s stake in Reliance Nippon Life Insurance, they added. 

Reliance Nippon Life Insurance Company, a joint venture with Japan's largest life insurer-Nippon Life which holds 49 per cent shareholding, has a paid-up capital of Rs 1,196 crore as of September 30, 2020.