Reliance Capital applies for delisting shares

New Delhi: Debt-laden Reliance Capital (RCap) on Tuesday said it has approached bourses for delisting of its shares as part of resolution process.

The company has in accordance with the approval of the monitoring committee, made applications to BSE and NSE for delisting its equity shares, RCap said in a regulatory filing. Besides, it has also approached BSE for delisting of non-convertible debentures.

Mauritius-based IndusInd International Holdings (IIHL) emerged as the successful suitor with a bid of ₹9,650 crore for the resolution of RCap. IIHL later paid ₹200 crore to bolster RCap's solvency, which was over and above the bid amount.