The Committee of Creditors (CoC) had set a minimum bid amount of Rs 9,500 crore for the first round, Rs 10,000 crore for the second round and Rs 250 crore for subsequent rounds, , hinduja group, reliance capital
The bid by IndusInd International Holdings Ltd (IIHL) is higher than Rs 8,640 crore offer made by Torrent Investments in the first round of auction held in December last year.
A Hinduja Group firm on Wednesday emerged as the highest bidder with an offer of Rs 9,650 crore to take over debt-ridden Reliance Capital in the second round of auction, sources said. The bid by IndusInd International Holdings Ltd (IIHL) is higher than Rs 8,640 crore offer made by Torrent Investments in the first round of auction held in December last year. The other two
A Hinduja Group firm on Wednesday emerged as the highest bidder with an offer of Rs 9,650 crore to take over debt-ridden Reliance Capital in the second round of auction, sources said.
The bid by IndusInd International Holdings Ltd (IIHL) is higher than Rs 8,640 crore offer made by Torrent Investments in the first round of auction held in December last year.
The other two suitors Torrent Investments and Oaktree did not participate in the second round of auction, sources said.
The second round of auction was held on Wednesday after the Supreme Court allowed lenders to go ahead with the extended challenge mechanism in order to maximise the recovery from the sale.