Here is a big headline for the investors, Hinduja Group is planning to acquire Reliance Capital by the end of this year and the firm is targeting a value creation in the banking, insurance sector, and financial services of $35 to $40 billion. Yes, you heard it right, in the BFSI (Banking, Financial Services, and Insurance Sector) Hinduja Group has geared up to have a value of $35 to $40 billion by including more verticals to bridge the gaps in the next 5 to 7 years. According to the chairman of the company they are diversifying and planning to get into fintech, digital, and tech as part of its new phase of growth. Therefore, the company is planning to acquire Reliance Capital by the end of this year. You need to know more about Hinduja Group’s new phase of growth. Stick with this page and keep reading this article.
Ashok P. Hinduja who is the chairman of Hinduja Group Companies India said that the company is planning to enter the new tech, digital, and fintech sectors as part of a new phase of growth, to do so the company go through acquisition so that they have complete offering in the BFSI sector. The chairman of Hinduja Group Companies (India) further added, “So the first phase will start and the objective of the holding structure, which is a Mauritius-based IndusInd International, is to grow into the BFSI sector to complete the full stack,”
He was at the media round table in London when he said the company is aiming for $35-40 value creation in the next five or seven years. For the unversed, currently, Hinduja Group owns IndusInd Bank, Hinduja Bank (Switzerland), and Hinduja Leyland Finance, among other businesses. As the RBI modified its policy the company is raising promoter’s stakes in IndusInd Bank by increasing promoters’ stake in private banks up to 26 percent. Continue reading this article and read more details.
As mentioned, The Hinduja Group is planning to acquire Reliance Capital by the end of November 2023 because it is debt-ridden. Meanwhile, IndusInd International Holdings Ltd (IIHL) solely bid for Reliance Capital. But IndusInd International Holdings is pitched in a legal battle with Torrent Investments which was left out in the second round of the bidding. With the acquisition of Reliance Capital, it will be Hinduja Group’s entry into sectors such as general insurance, health insurance, and life insurance besides stock broking and the asset reconstruction company (ARC).