IndusInd International Holdings Completes Acquisition of Reliance Capital

IndusInd International Holdings (IIHL), led by the Hinduja Group, has finalized the acquisition of Anil Ambani-promoted Reliance Capital for Rs 9,650 crore. This move marks a significant expansion of IIHL's portfolio in the financial services sector, including the insurance, broking, and asset reconstruction businesses.

Strategic Focus on Insurance and Rebranding

Ashok Hinduja, chairman of IIHL, highlighted the strategic focus on the insurance sector, with plans to list Reliance’s insurance arms within two years. The company has initiated a rebranding process to remove the 'Reliance' name from these entities, a move that is expected to take between three to nine months, depending on regulatory approvals.

Workforce Restructuring and Employment Protection

With Reliance Capital employing around 128,000 people, workforce restructuring is anticipated as some subsidiaries will be divested. IIHL has expressed its commitment to protecting employment, aiming to absorb affected employees within its group companies rather than resorting to layoffs.