Darwin Platform Group (DPG) chairman Ajay Harinath Singh has submitted an expression of interest (EoI) to acquire Reliance Capital, which is currently undergoing an insolvency process.

The bid, which is to expand his portfolio in the non-banking finance sector, was made in his personal capacity.

Singh has placed a bid to acquire a majority stake in Reliance Capital, a statement from DPG said. Mumbai-based DPG has presence in sectors such as infrastructure, finance, banking, realty, retail, logistics, mining, energy, shipping and Defence among others, it added.

“Finance, especially the non-banking finance sector, is growing rapidly in the country. Unfortunately, diversified NBFC Reliance Capital is now in trouble but the company has made its strong presence felt across the country. With the infusion of adequate money, it can be revived to its initial vibrancy,” Singh said.

Reliance Capital had received a total of 54 EoIs from prominent bidders, including ICICI Lombard, Tata AIG and Nippon Life Insurance, with majority of the suitors interested in acquiring the firm in its entirety. totally. Singh’s bid is also among the total bids the firm received.

The deadline to submit the EoIs, which was extended by two weeks by the administrator from the earlier March 11 following request for more time from certain bidders, ended on Friday. The other bidders included HDFC Ergo, Bandhan Financial Holdings, Cholamandalam Investment, Adani Finserv, Yes Bank, OakTree Capital, Blackstone, New Quest, Indusind International, Brookfield and more.