Will keep Reliance Capital’s key entities as most are shell companies: Hinduja

To list insurance weapons in 2 years, re -prepare plans
Mumbai : Indusind International Holdings (IIHL) has completed the acquisition of Rs 9,650-crores of Anil Ambani-Protted Reliance Capital under the insolvency process after transferring funds to the creditor committee. Mauritius -based Hinduja -led company plans to list Reliance’s insurance weapons within two years.
IIHL president Ashok Hinduja said that the company focused on insurance, broking and asset reconstruction businesses. He said, “Reliance Capital has about 39-40 subsidiaries.
The company has an agency (lander) for branding again. Hinduja said, “Both insurance companies undergo a branding exercise to remove the name ‘Reliance’.
Inhl, promoters of Indusind Bank, also see the deal as part of their plan to offer a full range of financial services. “Now, with this acquisition, we are entering the insurance business in addition to banking.
On job retention, he said, “There are about 1,28,000 employees in Reliance Capital.