According to an industry expert, “The details are under study and a decision on the new bid will only be taken by next week or so,” said an industry expert. During the e-auction, Hinduja Group’s subsidiary, IndusInd International Holdings, had submitted a bid of ₹8,110 crores while Torrent group submitted a winning bid of Rs. 8,640 crores.
Hinduja Group lone competitor of Torrent investments during the e-auction for the resolution of Reliance Capital has submitted a revised bid; offering a net ₹9,000 crores two days after the Ahmedabad-based Torrent group won the bid at ₹8,640 crore.
RCap’s “committee of creditors” now has both plans at the table which will be examined thoroughly on the basis of many factors such as share of SRs (security receipts), upfront cash portion, tenure of the resolution plan, coupon or rate of return, etc. The RCap’s CoC next meeting is scheduled on 3rd January.
According to an industry expert, “The details are under study and a decision on the new bid will only be taken by next week or so,” said an industry expert. During the e-auction, Hinduja Group’s subsidiary, IndusInd International Holdings, had submitted a bid of ₹8,110 crores while Torrent group submitted a winning bid of Rs. 8,640 crores.
Read More-Torrent wins the bid for acquiring Reliance Capital at Rs. 8,640 crore
