Tag: Reliance Capital

Anil Ambani’s Reliance Capital gets 10 more bids for subsidiaries

NEW DELHI: Reliance Capital (RCL), part of the debt-ridden Anil Ambani-promoted Reliance Group, has received 10 more bids, including from SBI Life, for its subsidiaries, sources said. Earlier this month, the Committee of Debenture Holders had extended the last date for submission of expression of interest (EoI) to December 17, 2020. Following this, 10 new […]

Reliance Capital’s default rating puts $13 billion debt of Anil Ambani group at risk

NEW DELHI: Reliance Capital Ltd.’s downgrade to default grade at Care Ratings Ltd. places the debt of embattled tycoon Anil Ambani’s conglomerate at risk, reigniting India’s credit scare. Mumbai-based Care cut Reliance Capital’s bonds by eight notches to D from BB, citing a delay in coupon payments on several of the lender’s non-convertible debentures, the […]

Anil Ambani needs $2 billion in asset sales to save last stronghold

By PR Sanjai and Anto Antony NEW DELHI: The last stronghold in embattled tycoon Anil Ambani’s phone carrier-to-power empire is also developing fault lines. Reliance Capital Ltd., his financial services business that almost doubled its profit in five years, had largely remained insulated from the distress plaguing the wider conglomerate. Now, the company that controls India’s […]

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