Acquisition of RCAP completed by IndusInd International Holdings: Ashok Hinduja

Ashok Hinduja, Chairman of IndusInd International Holdings Ltd (IIHL), announced the successful completion of the acquisition of Reliance Capital (RCAP) through the Corporate Insolvency Resolution Process (CIRP) with a bid of Rs 9,650 crore, transferring funds to lenders and planning for management transfer. Hinduja revealed plans to focus on creating value, estimating Reliance Capital’s business value at Rs 20,000 crore, conducting a comprehensive review, and potentially exiting non-insurance entities. The potential public listing of Reliance General Insurance and Reliance Nippon Life, rebranding to remove ‘Reliance’ branding, and repayment of acquisition debt through an IPO were also discussed during the media conference.

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