Reliance Home Finance Ltd lists shares on BSE and NSE

Reliance Home Finance Ltd. lists its Equity Shares at the National Stock Exchange of India Ltd. (NSE) and BSE Ltd.

The announcement was made at an impressive listing ceremony fittingly held at NSE. The event began by lighting of the ceremonial lamp by the hands of Mrs.Tina Ambani. Other key personnel present were Mr. Anil Dhirubhai Ambani, Chairman, Reliance Group of Companies; Mr. Anmol Ambani, Executive Director, Reliance Capital; Mr. Ravindra Sudhalkar, ED & CEO, Reliance Home Finance and Mr. Vikram Limaye, MD & CEO, NSE. The listing ceremony was well attended by key stakeholders including Board of Directors, Executive Managers and other dignitaries.

Speaking about RHFL's listing, Mr. 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." Making a special mention on Prime Minister, Shri Narendra Modi's vision for 'Housing for All' he added saying "Our focus remains on affordable housing and you will see proportion of that increasing in our overall book. Our legacy precedes us, and coupled with the expertise of our leadership, we are prepared to chart new paths and work towards the dreams of millions of Indians."

In extending congratulatory remarks, Mr. Vikram Limaye, MD & CEO, NSE emphasized that the listing of strong and stable companies like Reliance Home Finance listing on the securities exchange will have a positive impact on the market and the development of the economy.

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. "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."

The Company had earlier announced how all Shareholders of Reliance Capital Ltd. have already received one free share of Reliance Home Finance Ltd. for every share held in Reliance Capital Ltd. as on Record Date i.e. September 6, 2017. The transfer was earlier approved by an overwhelming majority of 99.59 per cent votes in favour of the Scheme of Arrangement at the Tribunal-convened general shareholders meeting held on July 24, 2017, and that other requisite approvals had been duly received.

Reliance Capital will hold a 51 per cent stake in Reliance Home Finance Ltd., and the Company is adequately capitalised to grow the lending book multi-fold in the future.

Reliance Home Finance has Assets under management (including securitized portfolio) of Rs.13,022 crore (US$ 2.0 billion) as of June 30, 2017.

Source : Equity Bulls

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