Reliance Capital plans housing finance arm

Mumbai: Indian financial services firm Reliance Capital Ltd plans to set up a housing finance subsidiary and a non-banking finance company, Chairman Anil Ambani said on Tuesday.

“Reliance Capital, a unit of the Anil Dhirubhai Ambani Group, has made the necessary applications and is awaiting regulatory approvals," he said at a shareholders’ meeting.

Reliance Capital will invest more than Rs40 billion ($860 million) across its portfolio including insurance over the next three to five years, he said.

Milestone Alert!
Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!