The Hinduja family has sounded out global credit funds to raise up to $1 billion (about INR 82,000 million) to finance the potential acquisition of Reliance Capital Limited for which it is the favored bidder after lenders to the insolvent financial services company approved Hinduja's resolution plan, sources familiar with the matter told ET. The financing timeline could take between three and six months, depending on legal issues and court approvals for the acquisition, and the final list of financiers could change, sources said.
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5-day change | 1st Jan Change | ||
12.35 INR | +1.23% | -.--% | +7.86% |
06/05 | IIHL Waits for IRDAI Approval to Acquire 3Co.s' of Reliance Capital Under Bankruptcy | CI |
28/04 | RCAP Lenders Urge Hinduja Group Arm to Stick to Resolution Plan Deadline | CI |
1st Jan change | Capi. | |
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+7.86% | 37.39M | |
+13.53% | 78.69B | |
+9.33% | 50.96B | |
+3.27% | 48.2B | |
+18.55% | 43.97B | |
+13.41% | 41.9B | |
+25.99% | 39.87B | |
+6.77% | 30.84B | |
-1.55% | 29.08B | |
+11.26% | 23.04B |
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- News Reliance Capital Limited
- Hindujas Reportedly Look to Raise Up to $1 Billion to Finance Reliance Capital Acquisition