SBI Life and Apollo join the race for RCap assets


New Delhi, Dec 22 | Reliance Capital’s (RCAP) expression of interest (EOI) for asset monetisation garnered mega response with 60 bids being received. SBI Life and Apollo are among the 10 new bidders who have submitted expressions of interest for Reliance Capital’s assets, taking the total number of bids to 60.

December 1 was earlier the deadline for the submission of EOIs. Over 60 different bids have been received with SBI Capital Markets Limited and JM Financial Services Limited, the advisors to the lenders. Later the date for submitting the bids was extended to December 17.

Over eight bidders have bid for entire RCAP assets on as-is-where-is basis. The prominent among them are Oaktree, J.C. Flower and multiple ARCs.

For Reliance General Insurance, which is owned 100 per cent by RCAP, there are 18 bidders and prominent among them are, Chryscap, J.C. Flower, Blackstone, KKR, CVC Capital Partners, and Bain Capital.

For Reliance Nippon Life Insurance, in which RCAP owns 51 per cent controlling stake, has received 16 bids, including Bain Capital, NIIF, Arpwood Partners, Dabur Investments, Bandhan Bank, and Multiples Asset Management among others.

For Reliance Securities, there are eight bidders, including Bain Capital, Religare Broking, Edelweiss Securities and other ARCs.

For Reliance ARC, there are six bidders, including Bain Capital, International Asset Reconstruction Company and other ARCs.

For Reliance Health, there are eight bidders – Blackstone, Bain Capital, Arpwood Partners, and other ARCs.

There are also multiple bidders for RCAP’s stake in ICEX and Paytm E-commerce business.

Reliance Capital asset monetization process, to unlock value of its underlying businesses and to make RCAP debt free, was launched on October 31, 2020.

The monetization process being run under the aegis of Committee of Debenture Holders and the Debenture Trustee Vistra ITCL India Ltd – which represents 93 per cent of total outstanding debt of Reliance Capital.

EOIs were invited for all or part of RCL’s stake in the following key subsidiaries and assets individually or in any combination thereof. This includes 100 per cent stake in Reliance General Insurance Company Limited (RGI). It has a paid up capital of Reliance General Insurance is Rs 252 crore as of September 30, 2020. It is the 4th largest Private General Insurance Company with market share of 4.5 per cent as of March 2020 in the General Insurance category. It has shown consistent growth in AUM Year-on-Year with investment book of Rs 12,315 crore as on September 30, 2020.

The company performed its best even during COVID times with Gross Direct Premium Income of Rs 4,501 crore during the first six months of FY20- 21. It has a strong distribution network of 134 branches with amongst largest agency force of 46,742 as of September 30, 2020 across the country.

Bids have been invited for 51 per cent stake in Reliance Nippon Life Insurance Company Limited (RNLI). The paid up capital of Reliance Nippon Life Insurance is Rs 1196 Cr. as of September 30, 2020. RNLI is a joint Venture with Japan’s largest life insurer – Nippon Life which holds 49 per cent shareholding. It is the 10th largest Private Sector Insurer (in terms of Individual WRP) and amongst largest Non-Banca company with a network of 717 offices.

It witnessed sharp turnaround in performance during FY19-20 with a profit after tax of Rs 35 crore and 75 per cent growth (12 per cent CAGR) in embedded value over last four years.

It has an impressive claim settlement ratio of 98.1 per cent in FY19-20 and a higher Solvency ratio of 207 per cent (as against regulatory requirement of 150 per cent).

As on September 30, 2020, the AUM was Rs 21,912 crore and an individual premium market share of 2.20 per cent amongst private insurers.

Bids have been invited for 100 per cent stake in Reliance Securities Limited – Broking & distribution company offering services across asset classes including equities, commodities, derivatives, currency, mutual funds, bonds and corporate FDs.

Also on offer is a 100 per cent stake in Reliance Financial Limited – RBI registered NBFC, engaged in the business of financing, money lending, capital market linked financing activities, 49 per cent stake in Reliance Asset Reconstruction Limited which manages portfolio of Rs 1,996 crore as on September 30, 2020.

A 20 per cent stake in Indian Commodity Exchange is also being bid. Other key shareholders in ICEX are Central Warehousing Corporation, MMTC Limited, Indiabulls Housing Finance Limited, Indian Potash Limited and Bajaj Holdings and Investments. ICEX is a SEBI regulated commodity derivatives exchange.

There is also 100 per cent stake in Reliance Health Insurance Limited. Other PE investments like Naffa Innovations Private Limited, Paytm E-Commerce Private Limited. RCL’s key businesses and subsidiaries are performing well and business will continue as usual. The management, professional team, customer and partners will be unaffected by the proposed asset monetisation programme of RCAP.

Source: IANS

Sponsors Posts

From being a developer to a CEO in California, Manthan Dudeja's top tips to make money while you're still in college

From being a developer to a CEO in California, Manthan Dudeja's top tips to make money while you're still in college

Gone are the days when one had to finish school, college and subsequent years in getting trained to be able to sustain oneself with decent income. Today, what you earn eventually depends upon your skillset and how early you got started to build an expertise in your domain.

Manthan Dudeja, who currently lives in California and is still in his graduation years, understood the perks of starting early and is now a CEO who has worked across a plethora of jobs, from IoS programming to website development and blogging to trying his hand at Amazon Associates.

In conversation with this dynamic entrepreneur, let’s decode the various options for freshers to make a side income while they are still in school/college –

  • Content writer/Editor

Manthan explains how he started off by writing for blogs with whatever knowledge he had and with the help of internet, this could be by either writing for your own online blog, for instance Manthan was interested in Tech, so he was writing for his blog ‘TechCrack‘ or for someone else in the capacity of a content writer.

It’s not difficult to get started if you have the basic understanding to develop a ‘flow’ while writing a piece and the skill to write what suits your target audience.

  • Software developers/ Programmers/ Coders – Today, software/app developers are earning more than the average of $60 an hour by working remotely. There are a host of online paid/free platforms providing trainings to acquire such skills, Manthan has been an app/website developer for the longest time and by far, this skill has given him the best results for his work.
  • Digital Marketer/ E-Marketer-

Your journey to become a digital marketer starts the day you take the step of self-educating yourself and learning the tricks to attract potential customers either by way of Google, Facebook, or any other digital platform by a host of scalable ways on the internet, undoubtedly, digital marketing is the hottest online work from home concept of this decade.

Manthan is today a successful digital marketer who has equipped himself with the advanced knowledge of online ads on various mediums and has effectively used these skills to generate incredible revenue over time.

These are some of the best ways to get started, according to Manthan, all


Sponsors Posts

2 BHK Residential Apartment for Sale in Aadhya Hills Bhita Jabalpur

2 BHK Residential Apartment for Sale in Aadhya Hills Bhita Jabalpur
Aadhya Hills is one of the residential development. It offers spacious and skillfully designed apartments. The project is well equipped with all modern amenities to facilitate the needs of the residents.
  • Property type: Residential Apartment 
  • Offer type: For Sale 
  • City: Jabalpur 
  • Zip Code: 482001 
  • Locality: Bhita 
  • Landmark: Bhita 
  • RERA Registration Number: P-JBP-18-1599 

For more details please click here or visit


Please enter your comment!
Please enter your name here