In a strategic move, Hinduja Group is currently engaged in discussions with private debt funds to secure approximately $800 million in financing. The intended purpose of this funding is to support the potential acquisition of Reliance Capital. People with knowledge of the matter, who have requested anonymity due to the confidential nature of the discussions, have revealed these developments.
It’s important to note that while discussions are ongoing, the terms of the agreement are subject to potential adjustments.
India has witnessed a surge in private credit activity, driven in part by regulatory restrictions that prohibit local banks from providing loans for mergers and acquisitions. Over the past five years, India has recorded the highest investment volume in Asia, as reported by the Global Private Capital Association, an organization representing investors.
Reliance Capital, once under the control of former billionaire Anil Ambani, became the focus of regulatory attention in 2021. This followed a series of defaults by several major non-bank financial institutions within a relatively short span.
Earlier reports in July from India’s Economic Times suggested that Hinduja Group had been actively seeking to raise $1 billion from a consortium of financial institutions for the potential acquisition of Reliance Capital. These reports were based on information provided by sources familiar with the matter.
As of now, no official comment has been made by a representative of Hinduja Group regarding these developments.
About Hinduja Group:
Hinduja Group Limited is a diversified conglomerate that offers a wide range of financial services. The company holds investments in various sectors, including banking and finance, trading, transportation, information technology, media and communications, as well as infrastructure project development. Hinduja Group caters to a global clientele.
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