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Amid lukewarm response IndusInd, Torrent, Oaktree bid for Reliance Cap

Piramal, Zurich Insurance, Advent bid for general insurance arm

Reliance Capital
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Reliance Capital

Dev Chatterjee Mumbai
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

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First Published: Aug 31 2022 | 1:15 AM IST

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