by AIP Online Bureau | Dec 24, 2022 | Indian News, Life, Non-Life, Regulation
Lenders will now take a call on whether they will accept Hinduja’s revised bid Analysts say Hinduja offer of Rs 9,000 crore cash upfront trumps Torrent bid of just Rs 4,000 crore cash and the balance to be paid to lenders in three equal instalments in year 3/4/5 with...
by AIP Online Bureau | Dec 21, 2022 | Indian News, Life, Non-Life
The acquisition will help Torrent group to venture into the financial services as Reliance Capital has a wholly owned subsidiary- Reliance General Insurance, and 51 per cent stake in Reliance Nippon Life Insurance among other assets. Hinduja Group was the second...
by AIP Online Bureau | Dec 20, 2022 | Eco/Invest/Demography, Indian News, Life, Non-Life, Regulation
Cosmea Financial is promoted by Sam Ghosh,who was heading Reliance Capital between 2008-2017 According to sources, the Cosmea-Piramal consortium has decided to walk out of the resolution process as it believes that the contours of the bidding process have been...
by AIP Online Bureau | Dec 13, 2022 | Indian News, Life, Non-Life
According to the new rules, the bidders, in the first and second round, will have to increase the bid value by minimum Rs 1,000 crore each. This means the first bid has to be minimum Rs 7,500 crore and the second Rs 8,500 crore. The auction will now take place on...
by AIP Online Bureau | Dec 9, 2022 | Indian News, Life, Non-Life
The bid price of Rs 5,300 crore quoted by the Cosmea-Piramal consortium will be the base price for the planned auction, and in the round one, the bidders will have to bid Rs 1,000 crore more than this base value of Rs 5,300 crore. Mumbai: The Reliance Capital’s...
