Reliance Capital’s EOI for asset monetisation receives 60 bids

New Delhi, Dec 2 : Reliance Capital’s (RCAP) expression of interest (EOI) for asset monetisation garnered mega response with 60 bids being received.
December 1 was the deadline for the submission of EOIs. Over 60 different bids have been received with SBI Capital Markets Limited and JM Financial Services Limited, the advisors to the lenders.
Over eight bidders have bid for entire RCAP assets on as-is-where-is basis. The prominent among them are Oaktree, J.C. Flower and multiple ARCs.
For Reliance General Insurance, which is owned 100 per cent by RCAP, there are 18 bidders and prominent among them are, Chryscap, J.C. Flower, Blackstone, KKR, CVC Capital Partners, and Bain Capital.
For Reliance Nippon Life Insurance, in which RCAP owns 51 per cent controlling stake, has received 16 bids, including Bain Capital, NIIF, Arpwood Partners, Dabur Investments, Bandhan Bank, and Multiples Asset Management among others.
For Reliance Securities, there are eight bidders, including Bain Capital, Religare Broking, Edelweiss Securities and other ARCs.