Anil Ambani’s Reliance Capital will get 10 extra bids for subsidiaries

(RCL), a part of the debt-ridden Anil Ambani-promoted Reliance Group, has obtained 10 extra bids, together with from SBI Life, for its subsidiaries, sources mentioned.

Earlier this month, the Committee of Debenture Holders had prolonged the final date for submission of expression of curiosity (EoI) to December 17, 2020. Following this, 10 new bids have are available for Reliance Capital’s belongings, taking the overall variety of bids to 70, the sources mentioned.

State Financial institution of India’s subsidiary SBI Life has additionally proven curiosity in choosing up Reliance Capital’s stake in Reliance Nippon Life Insurance coverage, they added.

Reliance Nippon Life Insurance coverage Firm, a three way partnership with Japan’s largest life insurer-Nippon Life which holds 49 per cent shareholding, has a paid-up capital of Rs 1,196 crore as of September 30, 2020.

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