 "Reliance Home Finance locked in 5% upper circuit at Rs 109 on debut")
Reliance Home Finance, the demerged home business of Reliance Capital, got locked in 5% upper circuit at Rs 109 on BSE on the first day of its debut in an otherwise weak market. The stock listed at Rs 104 on the BSE.
On the National Stock Exchange (NSE), the stock too frozen at maximum upper limit of 5% at Rs 107 after listing at Rs 102.
Till 10:04 AM; a combined 859,431 shares exchanged hands and there were pending buy orders for 1.42 million shares on the NSE and BSE.
All shareholders of Reliance Capital have already received one free share of Reliance Home Finance for every share held in Reliance Capital as on record date i.e. September 6, 2017.
Reliance Home Finance has Assets under management (including securitized portfolio) of Rs 13,022 crore (US$ 2.0 billion) as of June 30, 2017.
“Reliance Capital holds a 51% stake in Reliance Home Finance and the Company will be adequately capitalised to grow the lending book multi-fold in the future,” Reliance Capital said in a media release.
The equity shares of Reliance Home Finance are listed and admitted to dealings on the exchanges in the list of 'T' group securities. Under ‘T’ group the settlement will be done on trade-to-trade basis and no netting off will be allowed.
Reliance Capital was however, trading 4% lower at Rs 690, extending its Thursday’s 4% decline on the BSE.
On the National Stock Exchange (NSE), the stock too frozen at maximum upper limit of 5% at Rs 107 after listing at Rs 102.
Till 10:04 AM; a combined 859,431 shares exchanged hands and there were pending buy orders for 1.42 million shares on the NSE and BSE.
All shareholders of Reliance Capital have already received one free share of Reliance Home Finance for every share held in Reliance Capital as on record date i.e. September 6, 2017.
Reliance Home Finance has Assets under management (including securitized portfolio) of Rs 13,022 crore (US$ 2.0 billion) as of June 30, 2017.
“Reliance Capital holds a 51% stake in Reliance Home Finance and the Company will be adequately capitalised to grow the lending book multi-fold in the future,” Reliance Capital said in a media release.
The equity shares of Reliance Home Finance are listed and admitted to dealings on the exchanges in the list of 'T' group securities. Under ‘T’ group the settlement will be done on trade-to-trade basis and no netting off will be allowed.
Reliance Capital was however, trading 4% lower at Rs 690, extending its Thursday’s 4% decline on the BSE.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%