Lenders to Anil Ambani-led Reliance Communications, Reliance Infratel, and Reliance Telecom are in the final stages of evaluation process for bids received for the three companies under the Insolvency and Bankruptcy Code, and are likely to declare the highest bidder (H1) for each by January 14, three people aware of the development told CNBC-TV18 on the condition of anonymity.

While Mukesh Ambani-led Reliance Jio Infocomm has only bid for Reliance Infratel, Bharti Airtel and UV Asset Reconstruction Company (UV ARCL) have bid for all three and US-based Varde Partners has submitted a bid for RCom and Reliance Telecom, the people quoted above said.

For RCom, Bharti Airtel has submitted a bid of Rs 680 crore for financial creditors, and Rs 170 crore for operational creditors, said the sources. UVARCL has offered Rs 5 crore cash settlement, and Rs 9,100 crore in the form of long term zero-coupon bonds.

Varde Partners has offered Rs 49 crore upfront to lenders, Rs 2,320 crore in the form of long term zero-coupon bonds and Rs 8,760 crore junior unsecured debt.

Reliance Jio has not placed a bid for RCom.

For Reliance Infratel, while Reliance Jio has offered Rs 3,609 crore for financial creditors. Bharti Airtel is understood to have offered Rs 1,439 crore for financial creditors and another Rs 360 crore for operational creditors, said the sources.

UVARCL has offered Rs 5 crore upfront cash settlement and Rs 2,450 crore long term zero-coupon bonds, according to people familiar with talks.

For Reliance Telecom, Bharti Airtel has made a bid of Rs 104 crore, including Rs 83 crore for financial creditors and Rs 21 crore for operational creditors.

UVARCL has offered Rs 11 crore upfront cash settlement, and Rs 910 crore long term zero-coupon bonds. Varde Partners is understood to have offered Rs 1 crore upfront, and Rs 32,692 in the form of various long term debt instruments, as per sources.

The three Anil Ambani group companies are collectively facing claims of over Rs 86,000 crores. RCom is facing claims of over Rs 49,190 cr under the NCLT, Reliance Telecom over Rs 24,300 crore and Reliance Infratel over Rs 12,600 crore.

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First Published:Jan 10, 2020 11:33 AM IST