Key Points
Mumbai: Hinduja Group, the winning bidder for Reliance Capital (RCap), has reworked its fundraising plan by splitting it into two blocks: domestic and overseas..
The group is looking to raise 7,500 crore funds from a mix of domestic and overseas private credit funds at 15%..
Domestically, Hinduja plans to raise 3,500 crore from investors, including IIFL's 360 ONE, offering a 15% return..
This approval is crucial for the transfer of Reliance General Insurance, Reliance Nippon Life, and Reliance Health Insurance to IIHL but restricts the winning bidder from pledging shares of the insurers...
Last month, IIHL BFSI (India), linked to the Hinduja Group, sought the banking regulator's approval to pledge 100% of shares of Reliance Capital, to raise 8,000 crore, as reported by ET..
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IRDAI objects to Hinduja Group pledging shares of insurance company to acquire Reliance Capital
14, Oct, 23Hinduja Group is in talks with offshore lenders to raise $800mn (Rs 6,660 crore equivalent) to acquire the finance company under the Insolvency and Bankruptcy Code, the people said. Lenders have unanimously voted in favour of a Rs 9,660-crore plan offered by IIHL in June.
Hindujas reportedly looking to raise up to $1 billion to finance Reliance Capital acquisition
12, Jul, 23Some of the funds that have been tapped over the last few weeks include Farallon Capital, Oaktree, Ares Asia and Cerberus, as per the report
Irdai rejection raises more questions for Hinduja-led IIHL on source of funds for RCAP acquisition
16, Oct, 23The Administrator of debt-ridden Reliance Capital (RCAP) has raised concerns about the source of funds and business plan with IndusInd International Holdings Ltd (IIHL), the successful bidder for acquiring RCAP. The letter followed the rejection by the Insurance Regulatory and Development Authority of India (Irdai) of IIHL's proposal to raise funds through a pledge over the shares of Reliance General
At Rs 10,000 crore, Anil Ambani's Reliance Capital recovery may be only 43%
24, May, 23The recovery, totalling about ₹10,090 crore on factoring in the target company's cash balances and the Hinduja offer, falls short of the ₹12,500-13,000 crore estimated liquidation value.
Reliance Capital administrator submits Hinduja Group’s IndusInd bid to NCLT for approval
12, Jul, 23IIHL reportedly received an overwhelming majority of votes from the lenders, with 99.6 per cent in favor of its resolution plan for Reliance Capital (RCap).
Hinduja Group plans to delist Reliance Capital from bourses, extinguish existing shares
28, Feb, 24“The liquidation value of the equity shareholder of RCL (Reliance Capital) is Nil and hence, equity shareholders will not be entitled to receive any payment and no offer will be made to any shareholder of RCL,” according to an exchange filing.
Reliance Capital lenders to vote on Hinduja arm resolution plan from today
09, Jun, 23The Hinduja Group entity, Indusind International Holdings Ltd. separately will also seek Reserve Bank of India consent for the plan asRBI's 'fit and proper' endorsement is needed for acquirers of financial services companies in bankruptcy resolution exercises.
Hinduja in talks with private debt funds for about $800 million
09, Oct, 23India has become a hotbead for private credit activity, in part because regulation forbids local banks from extending loans for mergers and acquisitions. Over the last five years, the country notched up the highest investment volume in Asia, according to research from the Global Private Capital Association, a body representing investors.
SC refuses to stay NCLT proceedings looking to approve Hinduja's resolution plan to acquire Reliance Capit
25, Aug, 23Gujarat-based Torrent Investments had emerged as the highest bidder with its Rs 8,640 crore in the initial bidding, but a day later the Hinduja Group through IndusInd International submitted a revised bid of Rs 9,000 crore and the same was approved by the lenders in April. Torrents appeal against the IndusInds RP is pending before the SC.