As many as 54 companies including Adani Finserv, ICICI Lombard General Insurance Company Limited (NSEI:ICICIGI), Tata AIA Life Insurance Company Limited, Bandhan Financial Holdings Ltd., Oaktree Capital Management, L.P. have submitted expressions of interest for Reliance Capital Limited (NSEI:RELCAPITAL) or some of its subsidiaries, as part of the resolution process. “Around 24 companies have bid for the entire company, that is Reliance Capital, while the rest have bid only for one or two clusters," said a source close to the development. The last day to submit EoIs was March 25.

Previously, the deadline had been fixed as March 11 but it was extended by two weeks as some prospective bidders had sought more time to submit EoIs. Other bidders include HDFC ERGO General Insurance Company Limited, Blackstone Inc. (NYSE:BX), Capri Global Holdings Private Limited and Edelweiss Alternative Asset Advisors. Bidders had two options - either to bid for the entire Reliance Capital or alternatively for any one or more of the eight clusters or subsidiaries of Reliance Capital.

However, the Administrator and the creditors may give greater weightage to the first option of selling all assets together.