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Reliance Capital shareholders to get 1:1 stock of home finance arm

The listing of RHF is expected to be completed by September: RCap

Press Trust of India  |  New Delhi 

Reliance Capital Q3 net up 10%

Reliance Capital on Monday said its shareholders will get a free share of (RHF) for each held as on September 6.

Reliance Capital had received approval in June from (NCLT) for shareholders' meeting on demerger of RHF, facilitating independent listing of the home finance unit on exchanges.

The listing of RHF is expected to be completed by September, RCap had said at that time.

"All persons who are Shareholders of Reliance Capital Ltd as on September 6, 2017 will receive one free share of Ltd for every share held in National Company Law Tribunal," RCap said in a statement today.

RCap said it will hold 51 per cent stake in RHF, and the company will be adequately capitalised to grow the lending book multi-fold in the future.

RHF had assets under management (AUM) of Rs 13,022 crore (USD 2 billion) as of June 30, 2017.

Stock of Reliance Capital closed 1.72 per cent up at Rs 788.55 on BSE.

First Published: Mon, August 28 2017. 18:32 IST