Amid lukewarm response IndusInd, Torrent, Oaktree bid for Reliance Cap

Piramal, Zurich Insurance, Advent bid for general insurance arm

Indicating lukewarm response for the assets of Reliance Capital (RCap), four companies — IndusInd, Torrent, Oaktree Capital Management, and B-Right Realestate — have made financial bids for RCap as an entire company, with all bids around Rs 4,000 crore, signalling massive haircut for banks if approved by a lender’s committee.

Piramal Enterprises, Zurich Insurance, and Advent International have placed bids for Reliance General Insurance, while there were no takers for the life insurance arm, informed banking sources.

Naveen Jindal-owned Jindal Steel & Power and UV Asset Reconstruction Company (ARC) have submitted bids for RCap’s ARC business.

For other assorted assets of RCap, three