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. At 1100 hours the shares of the company were trading at Rs 109.2 per piece, up 5% or Rs 5.20 on BSE. Reliance Capital was trading at Rs690.90, down 3.74% on the BSE, while the benchmark Sensex was trading 0.76% lower at 32,124 points.
“Given the opportunities in the housing segment, we believe there is enormous scope for Reliance Home Finance to improve growth momentum; demerger to entail sharper focus and more efficient capital allocation, ” says Edelweiss.
Highlighting the Company’s strategic plan for continued growth Mr. Ravindra Sudhalkar, ED & CEO, Reliance Home Finance said he is extremely pleased to be leading the team at Reliance Home Finance.
Reliance Home F is in the Finance – Housing sector.
Reliance Home Finance has Assets under management (including securitized portfolio) of Rs.13,022 crore (US$ 2.0 billion) as of June 30, 2017, the company said in a release.
Ambani also said that the decision for demerging RHFL from Reliance Capital was a “conscious” one. 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.
Reliance Home Finance, a 100 per cent subsidiary of Reliance Capital, provides a wide range of loan solutions like home loan, loan against property, construction finance and affordable housing loans.