Shares of Anil Ambani’s company Reliance Capital are racing. The shares of Reliance Capital again hit the upper circuit on Monday. The rally in the company’s shares comes after reports that 14 bidders, including Adani Finserve, Poonawalla Finance, Piramal Finance and KKR of the Adani Group, have shown interest in buying Reliance Capital.
Upper circuit in the shares of the company for the second consecutive day
Shares of Reliance Capital are on the upper circuit at Rs 14.37, up 4.97 per cent on the Bombay Stock Exchange (BSE) on Monday. Earlier, on March 11 also, the company’s shares had an upper circuit. R-Cap (Reliance Capital) had sought Expression of Interest (EOI) from companies as part of its insolvency resolution proceedings. The last date for submission of bids for companies has now been extended to March 25, 2022. Earlier the last date for submission of bids was March 11, 2022.
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These companies have also submitted their bids
Other companies that have submitted their bids to buy Reliance Capital include Arpwood, Verde Partners, Multiples Fund, Nippon Life, JC Flowers, Brookfield, Oaktree, Apollo Global, Blackstone and Hero Fincorp. PTI has said this quoting sources. According to sources, two options have been given to the bidders. Either she bids to buy out the entire stake in Reliance Capital or she can bid for any one or more of the company’s 8 subsidiaries. There are reports that most of the biddings have come to buy the entire stake of the company.
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Consolidated debt of around Rs 40,000 crore on R-cap
Reliance Capital has a consolidated debt (debt) of about Rs 40,000 crore. The insolvency resolutions include Reliance Capital’s Reliance General Insurance, Reliance Nippon Life Insurance, Reliance Securities, Reliance Asset Reconstruction Company, Reliance Home Finance and Reliance Commercial Finance Subsidiaries.