The deadline to submit expressions of interest (EoIs) for Reliance Capital's assets has been extended to 17 December, 2020 the company said in a regulatory filing on 7 December, 2020. "we hereby inform that the committee of debenture holders has decided to extend the last date for submission of Expression of Interest to 17 December 2020," it said. According to a person aware of the development, the deadline has been extended because there were some interested parties who were following the process very closely but could not submit an EoI by 1 December, 2020 the earlier deadline.

The asset monetization process is being managed by SBI Capitals Markets (SBI Caps) and JM Financial Services. The asset sale was initiated by the committee of debenture holders of Reliance Capital, represented by Vistra ITCL. The Anil Ambani-led company's asset monetization plan already received EoIs from several entities including funds such as The Blackstone Group Inc. (NYSE:BX), Bain Capital, LP and Oaktree Capital Management, L.P., Mint reported on 3 December, 2020.

On sale are a wide range of businesses, from general and life insurance to asset reconstruction and brokerage to Reliance Capital's investments in companies such as Paytm E-Commerce Pvt. Ltd. and Naffa Innovations Pvt. Ltd. Investors such as Blackstone, Bain Capital and ChrysCapital and a few others have submitted EoIs for Reliance General Insurance Company Limited, while in the case of Reliance Nippon Life Insurance Company Limited, where Reliance Capital's 51% stake is on sale, investors who have shown interest at the EoI stage include Multiples Alternate Asset Management Private Limited and Bain Capital, among others, including the holding company of private sector bank.

Interested bidders were allowed to bid for whole or individual parts of the business.