Hinduja Group Emerges as Sole Bidder for Reliance Capital

Hinduja Group Emerges as Sole Bidder for Reliance Capital

The second round of auction for Reliance Capital, which is in debt, concluded on Wednesday with Hinduja Group’s IIHL emerging as the only participant. Hinduja Group offered an upfront payment of Rs 9,650 crore and was declared the highest bidder as other bidders like Torrent Investment, Oaktree, and Piramal Cosmea consortium did not participate in the auction round. This development is a positive sign for Reliance Capital, which has been struggling with its debts and seeking a resolution. The Hinduja Group’s interest in Reliance Capital could provide a boost to the company and help it to recover from its financial troubles.