NEW DELHI: Reliance Home Finance (RHFL), a subsidiary of Reliance Capital, has entered into exclusive discussions with an overseas institutional investor for a potential equity investment into the company.
Reliance Home Finance said the discussions are subject to confirmatory due diligence, definitive documentation, and necessary approvals.
“Reliance Home Finance has entered into exclusive discussions with an overseas institutional investor for a potential equity investment… in RHFL, along with an appropriate governance framework,” the company said in a BSE filing.
There can be no certainty at this stage that these discussions will result in any transaction. Further announcements will be made as appropriate, in due course, it added.
Earlier this fiscal, Reliance Home Finance had said it is targeting to achieve an assets under management (AUM) of Rs 50,000 crore by 2021 and is focusing on affordable housing for future growth.
For the year ended March 31, 2018, the company made disbursements of Rs 8,695 crore, a year-on-year increase of 19 per cent. Its total income increased by 46 per cent at Rs 1,671 crore and profit before tax by 97 per cent at Rs 272 crore.
Stock of the company were trading 3.80 per cent higher at Rs 67 apiece on BSE.
Source: Press Trust of India