rags to riches: After suffering some significant financial losses, Anil Ambani has finally taken the most important decision of his life. As per the latest rumours, the entrepreneur is set to sell to Reliance Capital which is valued at Rs. 93,851 crore in 2018. The news is being broadcast on all news channels, and financial experts are posting their opinions online. However, the fact that Anil was in dire financial straits came as no great surprise; It was written all over the walls.
According to online news reports, Anil Ambani’s company, Reliance Capital, was reportedly sold recently. Soon buyer’s name will be everyone’s first query. If reports are to be believed, Reliance Capital will be acquired by the multi-billion dollar conglomerate Hinduja Group. A media story claims that Anil Ambani has incurred huge losses in the recent past, which is why lenders have lost faith in Reliance Capital. As a result, the Hinduja Group is close to buying the company. According to the uninitiated, one of the largest groups in India is the Hinduja group.
Banking and finance, IT and ITES, cyber security, business, infrastructure, media and entertainment, automotive, oil and specialty chemicals, power and real estate are the seven industries in which the Hinduja Group is active. The group was the sole bidder in the second round of auction. The Hinduja Group submitted the highest bid of Rs. 9661 crore in the auction. Not only this, but according to a rumour, the Hinduja Group has invested around Rs. Will also take possession of substantial cash balances of Rs. 500 crores. Anil Ambani-owned Reliance Industries has experienced a recent downturn, which is regrettable, considering how impressive the business was a few years back.
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Although the final paperwork of the deal has not been completed, neither side has yet issued an official statement to the public. The transaction will be beneficial to the lenders to Reliance Capital. Total Rs. According to reports, Rs 10,200 crore will be distributed to the lenders.