Reliance Home Finance to be listed on stock exchanges on Friday
Reliance Home Finance, the housing finance unit of Reliance Capital, will be listed on the stock exchanges this Friday. The move is expected to unlock value for the existing shareholders of the firm, Reliance Capital said in a statement.
Reliance Capital will hold a 51 per cent stake in Reliance Home Finance and the company will be adequately capitalised to grow the lending book multi-fold in the future. It has assets under management of Rs 13,022 crore as of June 30, 2017
All shareholders of Reliance Capital have already received one free share of Reliance Home Finance for every share held in Reliance Capital as on record date — September 6.