Best offer 60% below liquidation value, RCap lenders told
Piramal-Cosmea’s ₹5,231-crore offer comprises Piramal acquiring Reliance General Insurance Company, a wholly owned subsidiary of Reliance Capital, for ₹3,750 crore. Cosmea would acquire the remaining units for ₹1,481 crore. The duo has offered ₹4,250 crore upfront and ₹981 crore at the end of the second year.
