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IIHL's takeover of Reliance Capital set to complete by January end


Published on 2024-12-15 07:40:52 - Business Standard
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  • With the acquisition of Reliance Capital and its subsidiaries, IIHL
  • which holds a stake in IndusInd Bank and is also in the process of acquiring Invesco Asset Management and Invesco Trustee
  • is targeting a valuation of $50 billion by 2030.

The article from Business Standard discusses the impending completion of the takeover of Reliance Capital by IndusInd International Holdings Ltd (IIHL) by the end of January 2024. The takeover, which has been in process since the National Company Law Tribunal (NCLT) approved the resolution plan in February 2023, involves IIHL infusing Rs 9,650 crore into Reliance Capital. This financial injection aims to settle the company's debts and fund its operations. The deal has faced several delays due to regulatory approvals and legal challenges, but recent developments indicate that all necessary clearances are now in place, paving the way for the transaction to close soon. The takeover is significant as it will help Reliance Capital, which has been under insolvency proceedings, to restructure and potentially revive its business operations.

Read the Full Business Standard Article at:
[ https://www.business-standard.com/companies/news/iihl-s-takeover-of-reliance-capital-set-to-complete-by-january-end-124121500443_1.html ]