The disclosure comes at a time when Reliance Group companies and some others, are facing liquidity troubles
Lenders will have to mark down their exposure, says Morgan Stanley report
Blackstone, Carlyle, Brookfield, and Piramal group are in talks to buy a large stake in Reliance Home Finance (RHFL), according to sources
Even if the situation could change for good, for investors, it raises questions whether RCap's non-banking businesses are the early victims of the liquidity squeeze post the IL&FS defaults
The stock slipped 11 per cent to Rs 135 on the BSE in early morning trade, plunging 27 per cent in past three trading sessions from level of Rs 184 on April 15, 2019.
Global biggies explore higher offer than Nippon
Plan hinges on stake sale in MF arm to foreign partner, general insurance arm's IPO
Reliance Nippon is valued at over Rs 5,000 crore and the sale of controlling stake is expected to be at a significant premium to market
The proposal to divest its entire holding in the mutual fund arm comes at a time when the group is under severe stress due to its huge debt pile and pressure from lenders
Sources said the transaction could help clear around 40% of Reliance Capital's outstanding debt worth Rs 18,000 crore
As on December 31, 2018, Reliance Capital held 42.9 per cent stake in Reliance Nippon Life Asset Management Ltd
Reliance Capital is engaged in businesses of asset management, insurance, commercial and home finance, and equities and commodities broking
Reliance Capital is engaged in businesses of asset management, insurance, commercial and home finance and equities and commodities broking
The total assets of the company stood at Rs 870.41 billion, an increase of 7%
Natarajan is a CA and has 3 decades of experience in consumer banking risk management, retail and wholesale banking operations
The move is aimed at creating a retail-focused entity in this space, said Jai Anmol Ambani, ED, Reliance Capital
Company says it has received round 1 approval from insurance regulator
The company expects to raise Rs 1,500-2,000 crore by listing Reliance General Insurance
The stock hit 52-week high of Rs 698, up 6% on BSE in early morning trade in otherwise weak market.
Demerger of Relaince Home Finance will facilitate its independent listing on stock exchange