Hinduja Group wins Reliance Capital auction with bid value of ₹8,600 crore

Hinduja Group on Wednesday won the race for Reliance Capital Ltd with the highest bid of ₹8,600 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 ₹6,500 crore for the first round of the auction. The threshold value for the second and third rounds was ₹7,500 crore and ₹8,500 crore, respectively.

In the subsequent rounds, the bid amount had to go up by ₹500 crore and ₹250 crore, respectively.

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