Torrent group now offers Rs 8,640 crore upfront for Reliance Capital

Move comes after Hindujas' Rs 9,000-cr post-auction offer

Ahmedabad-based Torrent group has revised its offer for Reliance Capital by proposing its entire bid amount of Rs 8,640 crore as upfront cash.

The revised offer was made by Torrent at the Committee of Creditors meeting held in Mumbai on Friday. Though Torrent’s net value of the offer remains at Rs 8,640 crore, the entire money is now being offered as upfront cash, instead of staggered payments over the years.

The Hinduja group had offered Rs 8,110 crore to the RCap lenders in the auction but after the auction, it revised its bid to Rs 9,000 crore with the entire amount as