Lenders Select Authum Investment's Rs 2,900 Cr Bid For Reliance Home Fin

The resolution will help parent company Reliance Capital Ltd prune its debt by 25 per cent to Rs 11,200 crore

Topics

Reliance Capital | NBFC | Reliance Home Finance

BS Reporter  |  Mumbai 

Photo: Bloomberg

Photo: Bloomberg

Authum Investment, a Mumbai-based NBFC, has been selected as the highest bidder for Limited (RHFL). The company made an offer Rs 2,900 crore to RHFL lenders.

The voting on RHFL offers, which started on May 31 and concluded on June 19, saw participation of over 91 per cent of the lenders by value.

Authum’s plan was selected after it offered the highest net present value (NPV) for the company.

The resolution of RHFL will help the debt reduction plans of its parent, Ltd, whose debt will come down by 25 per cent or Rs 11,200 crore.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sun, June 20 2021. 18:04 IST

RECENT NEWS

JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity

JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more

Private Equity And Banks: The Complex Web Of Leverage

Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more

Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector

The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more

JPMorgan And Small Caps Lead Market Rally: A Sign Of Economic Optimism

In a week marked by strong financial performance, JPMorgan Chase & Co. reported a 25% rise in profits, and US small-... Read more

Big Banks Vs. Regional Banks: The Battle For Market Share

The financial industry is a competitive landscape where big banks and regional banks vie for market share. Each type of ... Read more

The Evolution Of Philanthropic Advisory Services In Private Banks

The landscape of philanthropic advisory services provided by private banks has undergone a significant transformation. T... Read more