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The Hinduja family is reportedly exploring raising up to $1bn to fund its acquisition of Reliance Capital, for which it is the preferred bidder. The financing timeline could take between three and six months, depending on legal issues and court approvals for the acquisition, and the final list of financiers could change, sources said.
IIHL 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).
The Hinduja family has sounded out global credit funds to raise up to $1 billion (about ₹8,200 crore) to finance the potential acquisition of Reliance Capital for which it is the favored bidder after lenders to the insolvent financial services company approved Hindujas resolution plan, sources familiar with the matter told ET.