Contact Your Financial Adviser Money Making MC
21
June 2017
Reliance
Capital Ltd on Wednesday said the shareholders' meeting to be convened
following a National Company Law Tribunal (NCLT) directive to consider demerger
of real estate lending business into Reliance Home Finance Ltd will be held
here on July 24.
In
a regulatory filing in the BSE, Reliance Capital said the tribunal convened the
shareholders' meeting for consideration of the proposed scheme of arrangement
for demerger of the company's real estate lending business into its
wholly-owned subsidiary -- Reliance Home Finance Limited.
According
to Reliance Capital, the demerger would unlock value for shareholders as the
home finance business has achieved scale. It would attract investors and
provide better flexibility in accessing capital. The Total Investment & Insurance Solutions
The
scheme would also create enhanced value for shareholders and allow a focused
growth strategy which would be in the best interest of all the stakeholders.
The
restructuring proposed by this scheme would also provide better flexibility to
the investors to select investments which best suit their investment strategies
and risk profile, the company said. The Total
Investment & Insurance Solutions
As
per the scheme, one fully paid-up equity share of Rs 10 each of Reliance Home
Finance would be issued for every one fully paid-up equity share of Rs 10 each
held in Reliance Capital.
Reliance
Capital had earlier 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 Total Investment & Insurance
Solutions
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