Reliance Capital share: The names of big companies like Adani-Tata are coming to the fore to buy Anil Ambani’s debt-ridden company Reliance Capital Limited. In fact, according to an official with knowledge of the matter, 54 companies have bid for the takeover of Reliance Capital. These companies include giants like Adani Finserve, Tata AIG, ICICI Lombard, HDFC Ergo and Nippon Life Insurance. After this news, there is a strong rally in the company’s stock. Today on Monday, there was an upper circuit in the stock of Reliance Capital. The company’s shares rose up to 5% to reach Rs 14.90.
0.67% drop in 5 trading sessions
The stock of Reliance Capital saw a fall last week. The company’s shares closed at Rs 14.15 on Friday. Today on Monday, shares of Reliance Capital opened up 4.95% at Rs 14.85. The company’s shares have fallen 0.67% in the last five trading sessions. At the same time, the stock has run up 18.73% in one month.
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The last date for bidding was March 25
Other bidders include Yes Bank, Bandhan Financial Holdings, Cholamandalam Investment, Oak Tree Capital, Blackstone, Brookfield, TPG, KKR, Piramal Finance and Poonawalla Finance. Explain that the administrator appointed by the Reserve Bank of India had extended the last date for submission of bids from March 11 to March 25.
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Sources said that most of the bidders have given EoI to take over the entire company. At the same time, some companies have bid for one or two subsidiaries of Reliance Capital. The bidders had two options either to bid for the entire company Reliance Capital or for one or two of its subsidiaries. Subsidiaries of Reliance Capital include Reliance General Insurance, Reliance Nippon Life Insurance, Reliance Securities, Reliance Asset Reconstruction Company, Reliance Home Finance and Reliance Commercial Finance.