InvestorQ : Who are the likely suitors to take over Reliance Capital?
Dia Deshpande made post

Who are the likely suitors to take over Reliance Capital?

swati Bakhda answered.
2 months ago

As of now , there are apparently several suitors willing to take over Reliance Capital. The company was referred to NCLT by the RBI after it was seen to pose as systemic risk to the entire financial system. Some of the likely suitors for the company include Adani Finserv, KKR, Piramal Finance and Poonawala Finance. Poonawala Finance, incidentally, is the new name of Magma Finance, which was taken over by the Poonawala group.

In all, there are about 14 prominent potential buyers willing to take a stake in Reliance Capital. RBI has fixed 25-March as the last date to submit bids for the company. This will mark the third large NBFC referred by RBI to the NCLT Dewan Housing and SREI. Bidders currently have two choices. They can either bid for entire Reliance Capital as one consolidated unit. Alternatively, they can bid for one or more of the 8 subsidiaries of the company. Reliance Capital has overall leverage of Rs.40,000 crore and big losses to boot.