IIHL completes Reliance Capital acquisition, entire bid amount transferred 

IndusInd International Holdings Ltd (IIHL), said it has completed the transaction to acquire Reliance Capital Ltd. by transferring the entire bid amount to lenders.

“The transaction from our side is over. As we are speaking, money is moving from one escrow to another,” IHL chairman Ashok Hinduja said on Tuesday.

“The journey for value creation would now begin. The value of the Reliance Capital business on a conservative basis would be ₹20,000 crore,” he said while briefing the media.

Mr Hinduja said IIHL would complete the review of the entire business and decide if further fund infusion would be required.

He said Reliance Capital has about 39-40 entities and many of them would be divested.

It may be recalled that in April 2023, IIHL had emerged as the successful resolution applicant for Reliance Capital of the Anil Ambani led Reliance Group by winning the bid under the IBC process with an offer of ₹9,650 crore.

IIHL said it had secured all requisite regulatory approvals from the Reserve Bank of India (RBI), the Insurance Regulatory and Development Authority of India and stock and commodity exchanges.