Hazel Mercantile emerges as the highest bidder for Reliance Naval

Hazel Mercantile offered about Rs 2,100 crore - pipping Naveen Jindal group and GMS of Dubai by a huge margin

Mumbai-based Hazel Mercantile has emerged as the highest bidder for Reliance Naval and Engineering Ltd (RNEL) with a bid of about Rs 2,100 crore – pipping Naveen Jindal group and GMS of Dubai by a huge margin.
 
While Naveen Jindal group offered about Rs 400 crore for the company, GMS of Dubai made an even lower bid of Rs 200 crore. The commi­ttee of creditors, which met here on Wednes­day, found all three bidders legally compliant and will start negotiating to get the better offer. Voting on the bids will be held at a later date after negotiations with