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Lenders extend Reliance Home Finance bid deadline to January-end

Move follows request by suitors; only two of six contenders submitted binding bids, the other four came with riders

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A source said the 2 bidders opposed the deadline extension and threatened to walk away from the process. While US-based fund Avenue and ARCIL have made a joint bid, Authum Investment & Infrastructure has also placed its bid

Dev Chatterjee Mumbai

2 min read Last Updated : Dec 21 2020 | 1:10 AM IST

Lenders to Reliance Home Finance — part of the debt-ridden Anil Dhirubhai Ambani Group — have extended the bidding deadline to end-January next year, following requests from bidders.

According to a source close to the development, only two bidders — Avenue-Asset Reconstruction Company (India), or ARCIL, consortium and Authum Investment & Infrastructure — have submitted binding bids.

Four companies made non-binding bids, but with riders.

Reliance Home Finance was sent for debt resolution by banks after it failed to repay its Rs 12,000-crore debt.

A source said the two bidders opposed the deadline extension and threatened to walk away from

Topics : Reliance Home Finance Real Estate housing

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