Reliance Home Finance Ltd

Summary

Reliance Home Finance Limited (RHFL) is a subsidiary of Reliance Capital Limited (Rcap). RHFL was incorporated on June 5, 2008. The company is registered with the National Housing Bank as a Housing Finance Company. RHFL provides home loans, including affordable housing loans, loans against property and construction finance loans.The company is ceased to be a subsidiary of Reliance Capital Ltd with effect from 05 March 2020 and RHFL is now an associate of Rcap.Durng the FY2017,the companys gross income increased to Rs 1144.68 crore as against Rs 815.03 crore in the previous year,registered a growth of 40%. The companys Asset Under Management(AUM) stood at Rs 11174 crore as at 31 March 2017 as against Rs 7358 crore in the previous year.During the year,the scheme of arrangement for demerger of credit business of India Debt Management Pvt Ltd into the company has been approved by NCLT.The scheme was made effective from 21 April 2017 with the appointed date being 31 March 2016. Pursuant to the scheme,the company had issued and allotted 31035980 8% Cumulative non-convertible redeemable preference shares to the shareholders of IDMPL on 09 August 2017.During the year,the Board of Directors had approved the scheme of arrangement for demerger of Real Estate Lending Business of holding company Reliance Capital Ltd into the company.The scheme became effective 05 September 2017.The appointed date for the scheme being 01 April 2017.Pursuant to the scheme had issued and allotted 252689630... Read More