Reliance Home Finance, a 100% subsidiary of Reliance Capital, is planning to raise up to Rs 3,500 crore through non-convertible debentures (NCDs). The company plans a public issue of secured redeemable NCDs aggregating up to Rs 3,000 crore and unsecured NCDs worth Rs 500 crore totalling up to Rs 3,500 crore. Proceed of the issue will be utilized for lending, financing, repayment of existing borrowings of the company and for other general corporate purposes.
Reliance Capital is a systemically important non-deposit taking NBFC. The company is part of the Reliance group led by Anil Dhirubhai Ambani. It currently operates as the holding company for the group’s entities in the financial services sector.
