Torrent Investments Private Limited submitted a bid of INR 86,400 million for acquiring the NBFC firm set up by the Anil Ambani Group. If successful, it will mark the entry of Torrent Group into financial services space. In an e-auction conducted under the Challenge Mechanism, Torrent had presented a resolution plan for Reliance Capital Limited (NSEI:RELCAPITAL) (RCL) with a net present value of INR 86,400 million, while Hinduja Group Limited's offer was INR 81,100 million.

The CoC fixed a floor value of INR 65,000 million for the auction held on December 21, 2022. After the e-auction was over, sources said, Hinduja presented a revised resolution plan with a bid of INR 90,000 million and it offered 100% cash upfront. On the other hand, sources said, Torrent Group offered only INR 37,500 million crore as upfront cash, which is 54% lower than the Hinduja offer.