Hinduja Group wins Reliance Capital auction with bid value of ₹8,600 crore
Dec 21, 2022, 17:40 IST
Hinduja Group on Wednesday won the race for Reliance Capital Ltd with the highest bid of ₹8,600 crore.
According to banking sources, the auction that started on Wednesday morning concluded with Hinduja emerging as the highest bidder for Reliance Capital as a core investment company.
The Committee of Creditors (CoC) had fixed a floor value of ₹6,500 crore for the first round of the auction. The threshold value for the second and third rounds was ₹7,500 crore and ₹8,500 crore, respectively.
In the subsequent rounds, the bid amount had to go up by ₹500 crore and ₹250 crore, respectively.
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According to banking sources, the auction that started on Wednesday morning concluded with Hinduja emerging as the highest bidder for Reliance Capital as a core investment company.
The Committee of Creditors (CoC) had fixed a floor value of ₹6,500 crore for the first round of the auction. The threshold value for the second and third rounds was ₹7,500 crore and ₹8,500 crore, respectively.
In the subsequent rounds, the bid amount had to go up by ₹500 crore and ₹250 crore, respectively.
SEE ALSO:
Reliance Jio continues to lead the telecom industry as its active subscribers increase by 4.9 million
Electric SUV, Hyundai Ioniq 5 EV comes to India: Check booking details and features