As per the latest reports, Anil Ambani is all set to sell his company, Reliance Capital, to the famous billionaire brothers. Here are the latest details of the multi-billion deal.
Anil Ambani has finally taken the biggest decision of his life after experiencing some serious financial losses. As per the latest reports, the businessman is all set to sell his company, Reliance Capital, which was worth Rs. 93,851 crores back in 2018. The news is flashing all around the news channels, while finance gurus are sharing their thoughts on the internet about it. However, it wasn’t too much of a shocker as writings were on the walls, as everyone knew that Anil was facing a tremendous financial crunch.
Recently, the news reports of Anil Ambani selling his company, Reliance Capital made its way on the internet. And, soon the first question that everyone is asking about is the buyer’s name. If the reports are to be believed, Reliance Capital will reportedly be purchased by the multi-billion conglomerate, Hinduja Group.
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As per a media report, Anil Ambani has suffered huge losses in recent years, which was why lenders lost their faith in the company, Reliance Capital. As a result, the company is on the verge of getting purchased by Hinduja Group. For the unversed, Hinduja Group is one of the biggest conglomerates in India. The group deals in seven different sectors, banking and finance, IT and ITeS, cyber security, trading, infrastructure, media and entertainment, automotive, oil and speciality chemicals, power and real estate.
In the second round of the bidding process, Hinduja Group was the lone bidder. Talking about the bidding amount, Hinduja Group made a mammoth bid of Rs. 9661 crores. Not only this, as per a report, Hinduja Group will also acquire the cash balance of the Reliance Capitals, which is around the hefty sum of Rs. 500 crores.
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The downfall of Anil Ambani’s Reliance Industries is quite unfortunate, as it was only a few years ago when the company was leading the line as one of the biggest names in the industry. With a value of Rs. 1 lakh crores, the deal is indeed a massive one for both sides.
The final formalities of the deal are yet to be finalised, but no official statement has been made public from both sides as of now. The deal is going to be a beneficiary one for the lenders of Reliance Capital. As per the reports, lenders will receive a sum of Rs. 10,200 crores for the distribution.
What are your thoughts on the deal between Reliance Capital and Hinduja Group? Let us know.
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