India: ARCIL, Authum among five bidders for Reliance Home Finance

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Lenders to Reliance Home Finance Ltd, part of the debt-ridden Anil Dhirubhai Ambani Group (ADAG), have received bids from five entities, two bankers aware of the matter said. Asset Reconstruction Co. India (Ltd) (ARCIL) and Authum Investment & Infra Ltd are among those who have submitted bids for all or some assets of the company, the bankers said on condition of anonymity.

“We have received both binding and non-binding bids. Some of the entities who have given a non-binding bid have sought more details or more time to complete due diligence. So, lenders will evaluate the price quoted by all bidders so that there is value maximization,” one of the two bankers cited above said.

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