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Hinduja Group wins Reliance Capital auction with bid value of Rs 8600 cr
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Hinduja Group on Wednesday won the race for Reliance Capital Ltd with a higest bid of Rs 8600 crore.
According to banking sources, the auction that started on Wednesday morning concluded with Hinduja emerging as the highest bidder for Reliance Capital as a core investment company.
The Committee of Creditors (CoC) had fixed a floor value of Rs 6,500 crore for the first round of auction. The threshold value for the second and third round was Rs 7,500 crore and Rs 8,500 crore, respectively.
In the subsequent rounds, the bid amount had to go up by Rs 500 crore and Rs 250 crore, respectively.
