Reliance Capital receives bids 60% below liquidation value: Report

Anil Ambani-owned Reliance Capital, while undergoing insolvency proceedings, received highest bid of ₹5,231 crore from Piramal Enterprises–Cosmea Financial Holdings, which is 60% below aggregate liquidation value, The Economic Times reported. This means bidders need to increase the offers or the company will go through liquidation or piecemeal sale of assets, which creditors are concerned about.