IndusInd Aims for $50Billion Valuation with Reliance Capital Acquisition

IndusInd International Holdings (IIHL), with significant UAE-based shareholding, has completed a $1.17 billion acquisition of Reliance Capital (RCAP), previously led by Anil Ambani. The acquisition is a pivotal step in IIHL's strategic expansion across the banking, financial services, and insurance sectors globally. IIHL, aiming for a $50 billion valuation by 2030, faced a three-year resolution process to finally acquire the debt-laden RCAP. The acquisition enhances IIHL's market presence and marks its entry into the insurance sector, adding to existing banking and mutual funds ventures. Future expansion plans include exploring markets in Europe, Sri Lanka, Indonesia, and the GCC and MENA regions, while maintaining a strong presence through IndusInd Bank in the UAE. As part of its restructuring strategy, IIHL plans to retain key divisions like broking and asset reconstruction while divesting smaller shell entities within RCAP. The acquisition preserves RCAP entities like Reliance Nippon Life Insurance, Reliance General Insurance, and others, watching out for the interests of its 128,000 employees in alignment with Reserve Bank of India regulations.