Reliance Capital's housing finance unit to get listed soon

Anil Ambani-led Reliance Group’s Reliance Capital Limited announced on Tuesday that the company’s housing finance unit will be joining the listed companies’ bandwagon by making a stock market debut soon.

Beginning the process, the housing finance business of Reliance Capital got demerged on Tuesday and the company announced that the company will be getting listed under the name of Reliance Home Finance soon.

In an interview to a leading business daily, the CEO of Reliance Home Finance Ravindra Sudhalkar affirmed that the home finance business will get listed in 15-20 days.

In the cited interview, Sudhalkar also expressed that the company’s net worth is likely to surge to Rs 1,500 crore after the capital infusion and the net interest margin is expected to hit the upper range of 3.5 per cent.

Sudhalkar also expects the return on assets to reach upwards of 1.6 per cent by the financial year 2020 and the gross non-performing assets to clock in between 0.65 to 0.8 per cent till FY20.
  
The share prices of Reliance Capital took a major hit post the demerger, sharply falling by over 17 per cent in the opening trade on Tuesday.

At 2:25 hrs IST, Reliance Capital was trading at Rs 752 per share, down by 66.85 or 8.16 per cent on the NSE. The stock had it hits