Reliance Home Finance Ltd to raise funds through NCDs, QIP

The Board of Directors of Reliance Home Finance Ltd at its meeting held on December 11, 2017, has, approved (i) an issuance of secured redeemable non-convertible debentures ('NCDs') for an amount aggregating up to Rs. 2,000 crores, along with up to 7.5 crore warrants, with a right exercisable by the warrant holder to exchange each warrant with one Equity Share of the Company at a later date ('Warrants', and along with the NCDs, the 'Eligible Securities'), by way of a Qualified Institutional Placement ('QIP'), to be undertaken in accordance with applicable law, subject to market conditions and receipt of all regulatory and corporate approvals, at such terms and conditions as may be determined by the QIP Committee of the Board ('QIP Committee') and such other terms and conditions, as may be approved by the QIP Committee in due course; (ii) the 'relevant date' in respect of the Eligible Securities to be the date of the meeting in which the QIP Committee decides to open the QIP.

The meeting of the Board of Directors of the Company commenced at 7:00 p.m. and concluded at 9:00p.m.

Shares of Reliance Home Finance Ltd was last trading in BSE at Rs.87.1 as compared to the previous close of Rs. 81.55. The total number of shares traded during the day was 811719 in over 7524 trades.

The stock hit an intraday high of Rs. 93.3 and intraday low of 81.25. The net turnover during the day was Rs. 71882829.

Source : Equity Bulls

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