Debt holders of Reliance Capital Limited (NSEI:RELCAPITAL) have voted in favour of a proposal to seek buyers for eight clusters of the company's businesses including its equity stakes in Reliance Commercial Finance Limited and Reliance Home Finance Limited (BSE:540709), people aware of the matter told ET. The other clusters include asset reconstruction business, securities and broking business, life insurance business, non-life insurance business, real estate held by Reliance Capital, and loans in the books of the insolvent finance company. Applicants can give offers for more than one cluster or the entire company, the people said.

The administrator under the resolution process will seek expressions of interest (EoIs), setting a deadline of mid-March for the equity held by Reliance Capital in key subsidiaries, sources said. Administrator did not respond to the request for comment. It will invite EoIs for 100% equity in Reliance Commercial Finance (RCF), 49.5% in Reliance Home Finance (RHF), 49% in Reliance Asset Reconstruction Company Limited, 100% in Reliance General Insurance Company Limited, and 51% in Reliance Nippon Life Insurance Company Limited.

These are the five key companies that are likely to attract investors, people cited above said. The decision to sell Reliance Commercial Finance (RCF) and Reliance Home Finance (RHF) has raised questions over the lenders' earlier deal with Authum Investment and Infrastructure to sell loan books of these firms, one of the potential bidders said. A senior bank official, however, said the latest move will not impact the Authum deal."The proposed deal with Authum is only limited to sale of loan books of RCF and RHF while the administrator is seeking bids for the equity stake that Reliance Capital holds in the two finance companies," the person said.