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NCLT approves Reliance Capital shareholder's meet on Home Finance demerger

For every share held in RCap, shareholders will get one share of Reliance Home Finance after listing

Press Trust of India  |  New Delhi 

NCLT approves Reliance Capital shareholder's meet on Home Finance demerger

Capital on Wednesday said it has received an approval from the Tribunal (NCLT) for a shareholders' meeting on demerger of Home Finance, a move that will facilitate the independent listing of the home unit on exchanges.

The company has already received 'no-objection' from the and the on the scheme.

Listing of Home is expected to be completed by September, said.

For every share held in Reliance Capital, shareholders will get one share of Reliance Home after listing.

The proposal is expected to unlock substantial value for all existing shareholders and will benefit nearly one million shareholders of

"A tribunal-convened meeting of the shareholders of the company is scheduled to be held on July 24. For consideration of the proposed scheme of arrangement for demerger of Real Estate Lending Business of the company into its wholly-owned subsidiary viz Reliance Home Finance," Reliance Capital said in a regulatory filing to stock exchanges.

Reliance Home Finance, a 100 per cent subsidiary of Reliance Capital, provides a wide range of solutions like home loans, construction finance and affordable housing loans.

As on March 31, 2017, Reliance Home Finance has an asset base of Rs 11,174 crore.

First Published: Wed, June 21 2017. 14:15 IST
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