Hinduja sweetens offer for RCap to counter Torrent group's winning bid

CoC decide whether Hinduja offer is legally valid or not as e-auction has ended

The Hinduja group today revised its bid for Reliance Capital by offering a net present value of Rs 9,000 crore for the company, after the e-auction ended earlier this week.

The Hinduja group's revised offer came after Torrent group emerged as the highest bidder for RCap in the auction held on Wednesday, with an offer of Rs 8,640 crore to the lenders. If Hinduja's revised offer is allowed by the lenders, then Torrent will likley object and take legal action, said a source close to the development.

Bankers said this is the first time ever that a transparent e-auction has