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Barclays to anchor Hinduja's ₹4,300 crore bond for Reliance Capital acquisition

Livemint · 11m ago

Medial

The Hinduja Group is making progress in its bid to acquire Reliance Capital as Barclays Capital leads the second tranche of a high-yield rupee bond offering. The group plans to raise around ₹4,300 crore ($515m) to fund the acquisition, which has faced regulatory and financial challenges. Barclays is underwriting ₹1,500 crore of the bond, with the remainder taken by wealth manager 360One. Barclays and other expected participants, including Allianz, Bank of America, JP Morgan, PAG, Varde and Standard Chartered, are likely to subscribe to the bond issue over the next few weeks.