60 companies submit bids for Reliance Capital's asset monetisation

Oaktree, JC Flowers, 6 others submit EoIs for entire company

The sale of Reliance Capital’s (RCap’s) assets by Indian banks has received overwhelming response with eight companies – including Oaktree, JC Flowers and six asset reconstruction companies (ARCs) – submitting EoIs (expressions of interest) for the entire company.

Blackstone, KKR, and Bain Capital, among others, are in the race for its general insurance arm, and Bandhan Bank, Bain, and Dabur Investments have shown interest for RCap’s 51 per cent stake in the life insurance business.

In total, the lenders’ advisors – SBI Capital Markets and JM Financial – have received over 60 different bids for the assets. The companies that have shown