Tag: Reliance Capital

Swiss Challenge process to find buyers for LIC’s Rs 3,400 cr debt in Reliance Capital fails

Prior to initiating the Swiss Challenge process, LIC had received a binding bid from ACRE SSG, Singapore, which offered 27 cents for each dollar, resulting in a 73 per cent haircut for LIC.

November 27, 2022

Piramal, Zurich Joint Venture for Reliance Capital’s general insurance business collapses

In a setback to the ongoing Reliance Capital resolution process, the proposed joint venture arrangement between Piramal Finance and Zurich Insurance formed to place a joint bid for Reliance General Insurance Company (RGIC), has collapsed.

November 24, 2022

Reliance Capital COC divided on Challenge Mechanism

The Committee of Creditors (COC) of Reliance Capital, which met on Friday to decide on the Challenge Mechanism process, remained divided and undecided on the modalities of the proposed process to be adopted in the bidding process.

November 4, 2022

Reliance Capital Committee of Creditors to meet Friday to decide on Challenge Mechanism

The Committee of Creditors (CoC) of Reliance Capital (RCAP) is scheduled to meet on Friday to decide on the newly-introduced clause, Challenge Mechanism, in the final binding process.

November 3, 2022

Reliance Capital bidders flag off multiple legal issues involving Rs 20,000 crore liability

As the deadline for the submission of binding bids approaches, the bidders of Reliance Capital, including Hinduja, Torrent, Zurich, and Piramal have flagged off various legal issues to the lenders and Administrator, involving Reliance Capital and its subsidiaries.

November 2, 2022

Reliance Capital bidders seek extension of time for submission of binding bids

According to sources, Piramal Finance has sought extension by 12 weeks, while Advent has sought time till January 30, 2023, i.e., 16 weeks extension for submission of binding bid.

September 11, 2022

Reliance Capital raises objection to PFL stake sale by Credit Suisse

The proposed sale price is at a substantial altogether unwarranted discount to the intrinsic value of Prime Focus Ltd's shares.

December 29, 2020

Reliance Home Finance net loss widens to Rs 238 cr in Q4

The debt-ridden company had posted a loss of Rs 110 crore in the same period a year ago, the company said in a regulatory filing.

May 9, 2020

PWC observations baseless, unjustified: Reliance Capital

The company said all resources have been utilized to support group debt servicing of Rs 35,000 crore in the past 14 months.

June 13, 2019

Good response to OFS of stake in RNAM: Reliance Capital

The final price for the OFS of RNAM shares was at Rs 222 per share as against the base offer price of Rs 218 per share.

May 28, 2019

Anand Natarajan joins Reliance Capital as COO

Reliance Capital, a part of Reliance Group, on Wednesday announced the appointment of Anand Natarajan as the Chief Operating Officer. Natarajan will work closely with Anmol Ambani, Executive Director, in ensuring the smooth functioning of the group’s operations, develop synergies across businesses and drive performance, the company said in a statement. He has three decades...

March 7, 2018

NMCE, Indian Commodity Exchange to merge in 1st comex merger

National Multi Commodity Exchange (NMCE) will merge with Indian Commodity Exchange (ICEX), where Reliance Capital is the largest investor, in an all-stock deal to create the country's third-largest commodities bourse. This is the first merger deal in the commodity exchange space and the merged entity will offer the world's first diamond futures contract along with...

July 3, 2017

Reliance Capital sells Paytm stake to Alibaba for Rs.275 cr

Making handsome gains, Reliance Capital has sold nearly one per cent stake in digital wallet payments firm Paytm to China’s Alibaba Group for Rs.275 crore, media reports said on Tuesday. The Anil Ambani-led financial services holding firm had bought this stake for Rs.10 crore. The deal gives a valuation of over $4 billion to Paytm,...

March 7, 2017

Reliance Capital to sell stakes in TV, FM units to Zee Group

Reliance Capital on Wednesday announced that it will be selling 49 per cent stake in its radio business and 100 per cent interest in the TV arena to Zee Group.

November 23, 2016