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Reliance Capital sells 45% stake in home finance arm for Rs 54 crore

by Koushik Gope
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Reliance Capital, the financial services conglomerate of Anil Ambani, has sold a 45% stake in its home finance arm, Reliance Home Finance, to a consortium of investors led by Bain Capital Credit for Rs 54 crore.

The sale is part of the company’s ongoing efforts to reduce its debt and improve its financial health.

Reliance Home Finance is a non-banking financial company (NBFC) that provides home loans to individuals and small businesses.

The company had a loan book of Rs 27,000 crore as of March 2023.

The sale of the 45% stake in Reliance Home Finance will result in Reliance Capital reducing its stake in the company to 2.47%.

The remaining stake will be held by the consortium of investors led by Bain Capital Credit.

The sale is expected to help Reliance Capital raise around Rs 1,000 crore, which will be used to repay debt and improve its financial health.

The company is currently undergoing a corporate insolvency process, and the sale of the stake in Reliance Home Finance is seen as a positive step in the process.

The sale of the stake in Reliance Home Finance is also a sign of the growing interest of foreign investors in the Indian financial services sector.

Bain Capital Credit is a global investment firm with a focus on financial services.

The firm has been investing in India for several years, and the investment in Reliance Home Finance is seen as a vote of confidence in the Indian market.

The sale of the stake in Reliance Home Finance is a significant development for the company and for the Indian financial services sector.

It is a sign that the company is taking steps to improve its financial health, and it is also a sign of the growing interest of foreign investors in the Indian market.

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