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Reliance Home Finance to raise Rs 2,000 crore through NCDs

12 Dec 2017 Evaluate

Reliance Home Finance has received an approval for issuance of secured redeemable non-convertible debentures (NCDs) for an amount aggregating up to Rs 2,000 crore, along with up to 7.5 crore warrants, with a right exercisable by the warrant holder to exchange each warrant with one Equity Share of the Company at a later date (Warrants, and along with the NCDs, the Eligible Securities), by way of a Qualified Institutional Placement (QIP), to be undertaken in accordance with applicable law. The board of directors at their meeting held on December 11, 2017, has approved for the same.

Reliance Home Finance is engaged in providing housing finance. It provides housing loans, home improvement loan, home extension loan and reliance property solutions. It offers home loans to individuals and companies. It operates as a subsidiary of Reliance Capital.

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