IIHL Set to Complete Reliance Capital Acquisition by January 2024

IndusInd International Holdings Ltd (IIHL) plans to complete the acquisition of Reliance Capital by January 2024, following approval from the Department for Promotion of Industry and Internal Trade (DPIIT).

The ₹9,861 crore deal will give IIHL control over 42 entities, including Reliance Nippon Life Insurance and Reliance General Insurance. 

The acquisition is financed through ₹7,300 crore in debt and ₹2,750 crore in equity.

IIHL also aims to divest 34 subsidiaries and raise ₹1,450 crore from property sales. Post-acquisition, IIHL will focus on bancassurance and digitization to enhance business operations.