IIHL Takes Command of Reliance Capital: A New Era in BFSI Under Hinduja Leadership

IndusInd International Holdings Ltd (IIHL) has taken control of Reliance Capital (RCAP), concluding a three-year resolution process. IIHL now aims to integrate and digitize its newly acquired subsidiaries, targeting a USD 50 billion valuation by 2030, and exploring global expansion opportunities, especially in the BFSI sector.

IndusInd International Holdings Ltd (IIHL) has formally assumed control of Reliance Capital (RCAP) after completing a comprehensive three-year resolution strategy, taking over the debt-laden company's board and numerous subsidiaries.

Endorsed by the Reserve Bank of India, the new board features prominent members such as Moses Harding John and Arun Tiwari. Key subsidiaries under this acquisition include Reliance Nippon Life Insurance and Reliance General Insurance, among others.

IIHL Chairman Ashok Hinduja envisions expanding the company's foothold in the BFSI sector, with ambitious valuation targets and potential global ventures.

(With inputs from agencies.)