Piramal partner Cosmea exits race to acquire R-Capital

Effectively, it would be difficult for Piramal Enterprises now to participate in the auction process scheduled Wednesday. This is mainly because Piramal’s binding offer is for one entity of Reliance Capital, while only those bidders offering to buy the entire company can participate in the challenge auction process. Furthermore, Piramal’s binding offer was made with Cosmea, which is not participating in further rounds of the sale process.

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