IndusInd Completes Acquisition of Reliance Capital

IndusInd International Holdings Ltd has finalized its acquisition of Reliance Capital by transferring the bid amount to lenders. The move marks the end of a strategic transaction and begins a journey for value creation estimated at Rs 20,000 crore. Management transfer is imminent.

IndusInd International Holdings Ltd (IIHL) has finalized its acquisition of debt-laden Reliance Capital by transferring the complete bid amount to the lenders, chairman Ashok Hinduja announced on Tuesday.

The transition of management to the new hands is expected to happen on Wednesday. Hinduja communicated this as the transaction marks the beginning of a value creation journey, estimating the worth of Reliance Capital at a conservative Rs 20,000 crore.

IIHL plans to review Reliance Capital's portfolio, potentially divesting smaller subsidiaries and ensuring protection of its 1.28 lakh employees' interests. Having emerged as the winning bidder with an offer of Rs 9,650 crore, IIHL now seeks to expand its BFSI portfolio.

(With inputs from agencies.)