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3
May 2017
The
country's two bourses National Stock Exchange (NSE) and Bombay Stock Exchange
(BSE) have given their consent for the independent listing of Reliance Home
Finance, Reliance Capital Ltd, part of Anil Ambani-led Reliance Group, said on
Wednesday.
In
a statement here, Reliance Capital said it has received the requisite
"No-Objection" from both National Stock Exchange (NSE) and Bombay
Stock Exchange (BSE) to the scheme filed, facilitating the independent listing
of Reliance Home Finance on the bourses.
"The
company is proceeding with filing the scheme of demerger with the National
Company Law Tribunal for approval, and Reliance Home Finance is on track to be
independently listed on stock exchanges during the next few months," the
statement said.
As
part of the listing proposal, nearly one million shareholders of Reliance
Capital will be allotted one share free of cost in Reliance Home Finance for
every one share held in Reliance Capital. The
Total Investment & Insurance Solutions
Reliance
Home Finance has already announced strong financial results for the year ended
March 31, 2017. The Total Investment & Insurance
Solutions
For
the year ended March 31, Reliance Home Finance posted a total income of Rs
1,145 crore and a net profit of Rs 173 crore.
The
company closed last year with assets under management of Rs 11,174 crore.
Total
disbursements were at Rs 7,333 crore -- including Rs 1,102 crore disbursed
towards affordable housing with an average ticket size of Rs 11 lakh -- and
gross non-performing assets (on 90 days past due-dpd basis) improved to 0.8 per
cent from 1.1 per cent (as on December 2016).The Total Investment & Insurance Solutions
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