Reliance Home Finance Limited (RHFL), the demerged entity of Reliance Capital, got listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Friday.
Reliance Home Finance Limited (RHFL), the demerged entity of Reliance Capital, got listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Friday. The stock opened at Rs 104 on the BSE and closed the session 5% higher at Rs 109.20. Shares of Reliance Capital closed Friday’s session 7.83 % lower at Rs 661.55 per share on BSE. However, the stock’s return over three months is 26.05 %. Ravindra Sudhalkar, ED & CEO, Reliance Home Finance, said: “We are delighted to have achieved this milestone in such a short period of time. But none of this would have been possible without the continued support of the strong team at Reliance Home Finance and our 33,000 customers, who have shown faith towards the company and have allowed us to serve them.”
Reliance Capital will hold a 51 % stake in RHFL. The newly listed demerged entity has assets under management of Rs 13, 022 crore as of June 2017.
Speaking about RHFL’s listing, Anmol Ambani, executive director, Reliance Capital, said: “The listing results in Reliance Capital shareholders directly owning stake in RHFL, with over 9 lakh shareholders, the largest shareholder base in a housing finance company.” Reliance Capital shareholders would get a share of Reliance Home Finance for each share of Reliance Capital held. The transfer was earlier approved by 99.59 % votes in favour of the scheme of arrangement at the general shareholders meeting held in July this year.
RHFL provides a wide range of solutions like home loans, LAP, construction finance, and affordable housing loans. The company also provides property solutions’ services that help customers find their dream homes/property, along with financing.