Reliance Anil Dhirubhai Ambani Group or known as Reliance ADA Group,an Indian conglomerate, headquartered in Mumbai, India. Lenders to Reliance Home Finance Ltd, part of the debt-ridden Anil Dhirubhai Ambani Group (ADAG), have received bids from five entities. Asset Reconstruction Co. India (Ltd) (ARCIL) and Authum Investment & Infra Ltd are two among those who have submitted bids for all or some assets of the company.
One of the two bankers cited that they have received both binding and non-binding bids. Some of the entities who have given a non-binding bid have sought more details, they will evaluate the price quoted by all bidders so that there is value maximization.
The resolution process of the bid is being managed by BoB Capital Markets (BoB Caps) and Ernst & Young (EY).
Reliance Home Finance is providing 3 options, either its retail portfolio, or its entire shareholding and business, or the entire company excluding the wholesale book for those who are showing interest in bidding.
