The electronic auction of Reliance Capital's assets would begin on made by the Cosmea-Piramal combine taken as the base price.
The bidders will have to bid ₹1,000 crore onwards over the base value in the first round, a person close to the development said. The auction is expected to end within two days.
In the second round of the auction, the bid value sought would be ₹750 crore or more above the best offers in the previous round. In the third round, the bidders would have to increase the bid price by a minimum by ₹500 crore, while in the fourth round, they will have to offer a minimum of ₹250 crore or more, the source said.
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