Hinduja Group is in talks with non-banking financial company 360 One Prime (formerly IIFL Wealth Prime) to borrow Rs 4000 crore to acquire Anil Ambani’s Reliance Capital under the bankruptcy code.
Hinduja brothers are quite popular in the Indian business sector due to massive investments from the Hinduja Group in a wide range of businesses ranging from trucks and lubricants to banking and cable television. The Hinduja brothers include four siblings -- Srichand, Gopichand, Prakash and Ashok. All four of the Hinduja brothers together spearheaded the massive conglomerate that was founded by their father Parmanand Deepchand Hinduja in 1914. As per Forbes, the Hinduja family currently has a net worth of Rs 166110 crore. Giving a push in the financial sector, the Hinduja Group offered Rs 9650 crore to acquire debt-ridden Reliance Capital owned by Mukesh Ambani's brother Anil Ambani. Although the group's acquisition of Reliance Capital is pending necessary court and regulatory approvals, it is reportedly planning to borrow Rs 4000 crore for purchase of Anil Ambani’s company.
As per a report by the Economic Times, Hinduja Group is in talks with non-banking financial company 360 One Prime (formerly IIFL Wealth Prime) to borrow Rs 4000 crore to acquire Anil Ambani’s Reliance Capital under the bankruptcy code. The report also suggests that Hinduja Group’s IndusInd International Holdings is looking forward to borrow a total of ₹8,000 crore for the deal. However, the company has been facing pricing challenges as various credit funds are demanding rates on the higher side.
Gopichand Hinduja is currently the chairman of the group. He took the position after his older brother Srichand Hinduja died in May 2023. Hinduja Group had a headquarter in Iran until 1979, when the Islamic Revolution forced it to move to Europe. Srichand Hinduja and his brother Gopichand moved to London in 1979 to develop the export business. Prakash manages the group's operations in Geneva, Switzerland while the youngest brother, Ashok, oversees the Indian interests.
The group employs over 200,000 people and has offices in many major cities around the world including in India. In 2017, Srichand and Gopichand Hinduja were described as the wealthiest men in Britain.
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