Hinduja Group Gears Up for Reliance Capital Takeover to Triple BFSI Business

Hinduja Group's IIHL is nearing the completion of acquiring Reliance Capital, aiming to boost its BFSI business to USD 50 billion by 2030. With NCLT's approval, the deal is expected by January 2025. Post-acquisition, focus areas include digitalisation and bancassurance with IndusInd Bank collaboration.

Hinduja Group's IndusInd International Holdings Ltd (IIHL) anticipates finalizing the acquisition of debt-laden Reliance Capital by January 2025. The move is part of a strategic push to expand IIHL's banking, financial services, and insurance business to USD 50 billion within five years.

The National Company Law Tribunal in Mumbai has approved the acquisition plan, allowing valuable time for the completion of pending procedures. Delisting shares, setting up asset transfer trusts, and clearing asset charges are among the final steps before money can be distributed to Reliance Capital's creditors.

As part of branding efforts, the Hinduja Group aims to leverage the IndusInd brand. In parallel, bancassurance partnerships with IndusInd Bank will be pursued to enhance customer experience. The expansion is set to involve divesting non-core subsidiaries, with plans for a future IPO in consideration.

(With inputs from agencies.)