Four bidders in the final race for Reliance Home assets
January 27, 2021
acre, ares ssg, Capri Global, Kotak Special Situation Fund, avenue capital Assets Care & Reconstruction Enterprise Ltd (ACRE) along with Hong Kong-based private equity Ares SSG, Capri Global, Kotak Special Situation Fund and Us-based investment firm Avenue Capital are among the four bidders that remain in the final to acquire Reliance Home Finance Limited (RHFL)
Avenue Capital has partnered Asset Reconstruction Company (India) Limited for the bid. While lenders favour proposals for the entire company, Capri Global is understood to have emerged as the highest bidder for the retail assets of RHFL.
December 31, 2020
Total financial indebtedness of RHFL, including short-term and long-term debt, was ₹12,767 crore
Reliance Home Finance Ltd (RHFL) said the Delhi High Court has also extended the stay in relation to action by HDFC Bank, placing the company in the category of ‘Fraud’.
Referring to its regulatory filings on August 17, 2020 and November 24, 2020, RHFL said the Delhi High Court had directed Bank of Baroda, Punjab National Bank, State Bank of India, Federal Bank, Indian Bank and Bank of Maharashtra to keep in abeyance the placing of the company in the category of ‘Fraud’.
“The Delhi High Court has further extended the stay in relation to similar action by HDFC Bank,” says a late evening filing on December 30, 2020.
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