Anil Ambani, the younger brother of Mukesh Ambani and previously one of the richest men in India, is set to sell his company, Reliance Capital, to the Hinduja family, a multibillion dollar business.

The Hinduja brothers are presently leaning towards purchasing the company, which previously made the younger Ambani brothers ultra-wealthy, according to the most recent reports on the sale of Anil Ambani’s Reliance Capital.

According to Times Now, Anil Ambani’s Reliance Capital, which is now losing a lot of money, was valued Rs 93,851 crore in 2018. After the younger Ambani’s collapse, the company’s net worth plunged, and the lenders are now eager to sell.

The Hinduja Group company IndusInd International Holdings Ltd (IIHL), which was the lone bidder in the second phase of the action and put a record bid of Rs 9661 crore, has presented the resolution plan to buy out and resuscitate Reliance Capital.

The Reliance Capital lenders have voted in favour of the purchase of the Hinduja Group-led IIHL group by as much as 99%. Hinduja Group would buy both Anil Ambani’s business and the remaining cash balance of Rs 500 crore.

The aggregate net wealth of the Hinduja brothers is Rs 1,24,250 crores, whereas Reliance Capital was only a few years ago valued roughly Rs 1 lakh crore. The IIHL group and Reliance Capital lenders must yet finalise the deal’s last-minute details.

Anil Ambani, the younger brother of Mukesh Ambani, who formerly held the top corporate position in India, has declared bankruptcy in the past and has said that he presently has no net worth, may stand to gain from this arrangement.

Lenders anticipate receiving Rs 10,200 crore for distribution when the firm is sold, which will result in a 65 percent return on their investment.

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