About Rs 21,070 crore is payable to banks alone, the brokerage mentioned in a report. Sure Financial institution Ltd., Financial institution of Baroda, IndusInd Financial institution Ltd., Andhra Financial institution and IDFC Financial institution Ltd. are the lenders with the best publicity to Reliance Capital debt, it mentioned.
A number of the debt devices of Reliance Capital’s subsidiaries—Reliance Residence Finance Ltd. and Reliance Industrial Finance Ltd.—had been downgraded to ‘D’ by CARE, implying default or prone to default, Morgan Stanley mentioned. However the dad or mum Reliance Capital might not be able to increase sufficient assist to its subsidiaries, it mentioned. CARE had earlier put Reliance Capital’s long-term debt programme on “credit score watch”.
Of the whole consolidated debt owed to banks, Reliance Industrial Finance contributes Rs 11,620 crore, Reliance Residence Finance Rs 7,430 crore and standalone Reliance Capital accounts for Rs 6,750 crore, the report mentioned. This consists of time period loans, money credit score and non-convertible debentures.
Amongst all varieties of lenders, Life Insurance coverage Company of India had the best publicity price Rs 47,00 crore to Reliance Capital on the consolidated stage. Different massive lenders embody Nationwide Financial institution for Agriculture and Rural Growth, Small Industries Growth Financial institution of India and schemes of SBI and UTI mutual funds, and New India Assurance Firm Ltd. and Normal Insurance coverage Company.