Reliance Capital share: The shares of Anil Ambani’s bankrupt company Reliance Capital Limited have been flying for some time. The company’s shares rose 4.96% to Rs 22.20 on Friday. Since March 31, 2022, this stock was trading continuously rising above 4%. The share price as on 31 March 2022 was Rs 16.65. That is, the shares of Capital have jumped up to 33.33 percent in the last 7 trading days. Actually, this boom is being seen after the news in which 55 big companies including Adani, Tata have shown interest to buy the debt-laden Reliance Capital.
22 companies also bid for business cluster
According to the information given by the company in the stock exchange filing, a total of 55 companies have bid for the debt-ridden Reliance Capital. At the same time, 22 companies have bid for Reliance Capital as well as the business cluster. All 22 companies have bid for both the options while others have bid only for select business groups. Other potential resolution applicants include Adani Finserve, Authm Investment Infrastructure, Bandhan Financial Holdings, Brookfield, HDFC Ergo General Insurance, ICICI Lombard General Insurance, Torrent Investments, TPG Asia and TrueNorth Fund.
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March 25 was the last date for bidding
The administrator had on February 18 issued an expression of interest seeking bids for the company. The last day for submission of EOI was March 25. Earlier, the deadline was fixed for March 11, but it was extended by two weeks as some potential bidders sought more time for submission of EoIs. Let us tell you that this company has a total debt of 40 thousand crores.
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Many companies in the sales process
Let us tell you that many companies of Anil Ambani Group are in bankruptcy process. These include Reliance Infratel (the tower arm of Reliance Communications), Reliance Telecom, Reliance Naval and Reliance Capital.