IndusInd's Strategic Acquisition: A New Dawn for Reliance Capital

IndusInd International Holdings Limited (IIHL) will acquire Reliance Capital, with finalization expected by February 26, 2025. After securing regulatory approvals, IIHL aims to enhance its BFSI business to USD 50 billion. The acquisition follows a successful bid under the Corporate Insolvency Resolution Process (CIRP).

IndusInd International Holdings Limited (IIHL) has taken a significant step towards acquiring Reliance Capital, as the National Company Law Tribunal (NCLT) gave the green light for the acquisition process to complete by February 26, 2025.

According to sources, IIHL confirmed the submission of requisite documents and financial readiness to complete the resolution plan for the debt-ridden firm. The company has already deposited more than 50% of the plan's value in escrow accounts, ensuring a solid foundation for the acquisition.

With all necessary regulatory approvals, IIHL seeks to ramp up its banking, financial services, and insurance (BFSI) endeavors, tripling its valuation to USD 50 billion in the next five years from its current USD 15 billion.

(With inputs from agencies.)