New Delhi: Loans to Anil Ambani’s Reliance Capital have begun preparations for its sale. These companies have received bids from six companies interested in buying a stake in Reliance Capital.
So far six companies have offered
The companies will buy stakes in Reliance Capital’s insurance business, asset re-construction and securities brokerage. These companies will also buy Reliance Capital’s stake in the commodity exchange. The lending bank will recover the loan from the proceeds of the sale. Banks said interest has been shown by strategic and financial investors to buy a stake in Reliance Capital. Banks have received at least six such proposals.
Investors are taking a stake in Reliance Capital’s assets
Tuesday was the last day for the release of Expression of the Internet. Banks say the process began on October 1. Investors have not yet bid prices. It is trying to figure out which Reliance Capital business is doing well. Reliance Capital is a holding company. Only two Reliance Capital insurers are doing well. Therefore, investors can choose a good business when investing. Reliance Capital recently sent a notification to the stock exchange stating that it has a debt of Rs 19,805 crore in August 2020. 93 per cent of the company’s debt is in the form of bonds, which were issued by the company.
This is the reason why the debenture holders have started the monetization process under Trustee Vistra ITCL Limited. SBI Caps and JM Financial have been entrusted with the responsibility of finding buyers for the company. However, it is not yet clear whether the potential buyers have offered to buy the entire Reliance Capital for any of its businesses.