Who are the bidders interested in buying Reliance Capital?

At last count, there were a total of 54 prominent companies that have expressed interest in acquiring Reliance Capital from the NCLT. The final bidder will soon be shortlisted. The list of potential bidders includes popular names like Adani Finserv, ICICI Lombard, Tata AIG, HDFC Ergo, Yes Bank, Bandhan Bank, Nippon Life, Chola Investments, Oaktree, Blackstone Group, Brookfield, TPG, KKR, Piramal Finance and Poonawala Finance (formerly Magma Leasing).

It may be recollected that Reliance Capital is the third NBFC where the RBI has on its own initiated bankruptcy proceedings. This is a special clause wherein the RBI can initiate bankruptcy proceedings in the case of financial companies to protect markets from systemic risk caused by the fall of large NBFCs. The earlier two cases were IL&FS and Dewan Housing. While Dewan Housing was sold to Piramal Finance, IL&FS is still under bankruptcy process.