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Published: Jan 15, 2023
Updated: Jan 15, 2023
Just when Ahmedabad-based Torrent was declared the highest bidder at Rs 8,640 crore for Reliance Capital, the Hinduja group made a post-auction offer of Rs 9,000 crore to the lenders and the matter landed in the courts.
Now, the lenders have decided to launch a second auction which would allow Piramal and its partner Cosmea Financial and American financial services giant Oaktree to make a revised bid. Hinduja’s last offer is the base price and Piramal is expected to spring a surprise.
It would be interesting to see who wins the race for the assets of Anil Ambani’s company which has defaulted on bank loans worth Rs 25,000 crore. Bankers are expecting offers of Rs 10,000 crore and upwards.
February 15, 2025 - First Issue
Industry Review
VOL XVI - 10
February 01-15, 2025
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