IndusInd International Holdings Ltd (IIHL) has completed the transaction to acquire debt-ridden Reliance Capital (RCAP) by transferring the entire bid amount to lenders, IIHL chairman Ashok Hinduja said on Tuesday.
The management transfer is likely to take place on Wednesday.
“The transaction from our side is over. As we are speaking, money is moving from one escrow to another,” Hinduja said while addressing the media here.
The journey for value creation would now begin, he said, adding that the value of the Reliance Capital business on a conservative basis would be Rs 20,000 crore.
IIHL would complete the review of the entire RCAP business and take a call on the fund infusion required, he said.
Source: Business-Standard