Lenders select Authum Investment's Rs 2,900 cr bid for Reliance Home Fin

The resolution will help parent company Reliance Capital Ltd prune its debt by 25 per cent to Rs 11,200 crore

Authum Investment, a Mumbai-based NBFC, has been selected as the highest bidder for Reliance Home Finance Limited (RHFL). The company made an offer Rs 2,900 crore to RHFL lenders.

The voting on RHFL offers, which started on May 31 and concluded on June 19, saw participation of over 91 per cent of the lenders by value.

Authum’s plan was selected after it offered the highest net present  value (NPV) for the company.

The resolution of RHFL will help the debt reduction plans of its parent, Reliance Capital Ltd, whose debt will come down by 25 per cent or Rs 11,200 crore.