Business Standard

Hinduja's offer to infuse Rs 300 cr more in Reliance General Insurance

Group's total bid hiked to Rs 10,000 crore; CoC of RCap to meet senior Hinduja officials

Hinduja family
Premium

Photo: Bloomberg

Dev Chatterjee Mumbai

Listen to This Article

The Hinduja group has offered to invest an additional Rs 300 crore in Reliance General Insurance, which is a unit of Reliance Capital and requires urgent cash infusion to maintain its solvency levels.

Hinduja-owned IndusInd International Holdings Ltd (IIHL), in a second auction on Wednesday, made the highest bid of Rs 9,650 crore for Reliance Capital. Reliance General Insurance had sought Rs 600 crore of urgent fund infusion from lenders in December last year to meet solvency requirements of the insurance regulator, IRDA. The lenders earlier rejected the call for fund infusion from their kitty, passing on the burden for

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 27 2023 | 2:06 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com