BackReliance Capital to list home finance unit on 22 September
Reliance Capital says it will list Reliance Home Finance on 22 September on the BSE and the National Stock Exchange
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New Delhi: Reliance Capital Ltd on Wednesday said it will list its home finance unit Reliance Home Finance Ltd on 22 September at the BSE and the National Stock Exchange.
Reliance Capital shareholders have already received one free share of Reliance Home Finance (RHF) for every share held in Reliance Capital as on 6 September, the company said in a press release filed with the BSE.
Reliance Capital had received approval in June from National Company Law Tribunal (NCLT) for shareholders’ meeting on demerger of RHF, facilitating independent listing of the home finance unit on exchanges.
Reliance Capital will hold a 51% stake in RHF, and the company will be adequately capitalised to grow the lending book multi-fold in the future, it added.
RHF has assets under management, including securitised portfolio, of Rs13,022 crore as of 30 June.
Shares of Reliance Capital closed 0.99% down to Rs745.40 on BSE, while Sensex edged down 1.86 points, or 0.01%, to close at 32,401.
Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.
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