 "Aditya Birla")
Aditya Birla Capital, the financial services firm of the Aditya Birla group, has joined the race to buy a 51 per cent stake in Reliance Nippon Life Insurance Company (RNLIC), a unit of bankrupt Reliance Capital. Ahmedabad-based Torrent Group is also in the fray.
The stake is being sold by an administrator appointed by the Reserve Bank of India (RBI). A valuer appointed by the administrator has pegged the embedded value of the life insurance company at Rs 5,800 crore, said a banker close to the transaction.
Reliance Capital holds 51 per cent stake in RNLIC and Nippon Life of Japan the
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