RCap receives nod from NCLT for shareholders meeting on demerger
DSIJ Intelligence / 22 Jun 2017
On June 21,2017, Reliance Capital Ltd, a non-banking financial services company got the National Company Law Tribunal (NCLT) approval for shareholders meeting on demerger as well as independent listing of the Reliance Home Finance Limited.
On June 21,2017, Reliance Capital Ltd, a non-banking financial services company got the National Company Law Tribunal (NCLT) approval for shareholders meeting on demerger as well as independent listing of the Reliance Home Finance Limited.
The Reliance Capital Limited has received the ‘no-objection’ for the scheme from both the stock exchanges NSE and BSE and by September 2017, Reliance Home Finance listing is expected to be completed.
After listing of the company, all shareholders will receive one share of Reliance Home Finance for every share held in Reliance Capital Limited.
The purpose behind the independent listing was to unlock substantial value for all the stakeholders of the company.
Reliance Home Finance, a wholly owned subsidiary of Reliance Capital has an asset base of Rs11,174 crore (USD 1.7 billion), as of March 31,2017. It has also got the credit rating of “CARE AA+”. The company provides the mortgages for property loan, construction finance and affordable housing loans.
On June 22,2017, Reliance Capital was trading at Rs636.10, up by 1.68 per cent on BSE at 1109 hours. It opened at Rs 625.00, while on Wednesday it closed at Rs 625.60.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.