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Meet brothers who may borrow Rs 4,000 crore to fund Anil Ambani's Reliance Capital purchase, their massive net worth is…
Reliance Capital is the financial services arm of Anil Ambani Group.
Updated : Jul 12, 2024, 06:14 AM IST
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Mukesh Ambani's brother Anil Ambani has been having trouble in finalising his debt-ridden Reliance Capital acquisition at Rs 9,650 crore. The Anil Ambani Group's financial services division is called Reliance Capital. An acquisition bid was won by IndusInd International Holdings Limited (IIHL), a subsidiary of the Hinduja Group. However, it has been facing a hurdle to raise funds to close the deal.
Hinduja brothers are quite popular in the Indian business community as a result of the Hinduja Group's substantial investments in a variety of industries, including banking, cable television, vehicles, and lubricants. The four siblings that make up the Hinduja brothers are Srichand, Gopichand, Prakash, and Ashok. Together, the four Hinduja brothers led the enormous conglomerate that their father Parmanand Deepchand Hinduja had established in 1914. The Hinduja family presently has a net worth of Rs 166110 crore, according to Forbes.
The Economic Times reported that the Hinduja Group is negotiating a loan of Rs 4000 crore with 360 One Prime, a non-banking financial institution that was formerly known as IIFL Wealth Prime, in order to purchase Reliance Capital, owned by Anil Ambani, under the bankruptcy code. Additionally, the source indicates that IndusInd International Holdings, a subsidiary of the Hinduja Group, intends to borrow Rs 8,000 crore in total for the transaction. However, because several credit funds are requesting rates that are on the higher side, the business has been having trouble with pricing.
The group's current chairman is Gopichand Hinduja. Following the death of his older brother Srichand Hinduja in May 2023, he assumed the role. Up until 1979, Hinduja Group's headquarters were in Iran. However, the Islamic Revolution compelled the company to relocate to Europe. To grow the export company, Srichand Hinduja and his brother Gopichand relocated to London in 1979. While Ashok, the youngest brother, is in charge of the Indian interests, Prakash controls the group's operations in Geneva, Switzerland.
The organisation has offices in numerous major cities across the globe, including India, and employs over 200,000 people. Gopichand Hinduja and Srichand were deemed the richest men in Britain in 2017.
