Tata AIG, ICICI Lombard join race to buy insurance units of Reliance Cap

Parties can either bid to buy the entire company or any one or more of its eight clusters.

Tata AIG, ICICI Lombard and Nippon Life are among 54 prominent Indian and foreign financial companies joining the race for the profit-making insurance arms of Reliance Capital, which was last year put under administration due to defaults and governance issues.

The last day to submit expression of interest (EOI) was extended by two weeks to March 25 to give access to the latest information before they make financial bids.

HDFC Ergo, Bandhan Financial Holdings, Cholamandam Investment, Adani Finserv, Yes Bank, OakTree Capital, Blackstone, New Quest, Indusind International, Brookfield, TPG, Zurich Insurance Group, Ares SSG Capital, ArpWood Partners, Capri Global Holdings,