Reliance Capital sells 45% stake in Reliance Home Finance

28 Aug 2023 CW Team

Reliance Capital, currently undergoing corporate insolvency proceedings, has divested a 45% stake in its listed subsidiary, Reliance Home Finance, for Rs 54 million in the open market. This strategic move is expected to enhance recovery prospects for creditors. Consequently, Reliance Capital's ownership in Reliance Home Finance now stands at less than 2.5%.

Lenders have greenlit a resolution plan worth Rs 96.60 billion proposed by IndusInd International Holdings, a Hinduja Group entity, for Reliance Capital.

It's noteworthy that the resolution process for Reliance Capital's subsidiaries, Reliance Home Finance and Reliance Commercial Finance, commenced prior to the Reserve Bank of India's declaration of corporate insolvency for the parent company. This procedure was executed independently of the National Company Law Tribunal's jurisdiction.

Authum Investment & Infrastructure acquired the assets of both financial firms through an out-of-court resolution process. Under this arrangement, Authum purchased Reliance Home Finance's Rs 115.40-billion debt for Rs 33.51 billion and acquired the Rs 90-billion loan book of Reliance Commercial Finance for Rs 16.29 billion.

As part of the resolution plan, the operations of Reliance Home Finance were merged into Reliance Commercial Finance. Consequently, on July 17, Authum resolved to discontinue its housing finance activities and relinquish its housing finance company registration to the National Housing Bank.

In addition, the board has approved a proposal for the voluntary liquidation of Reliance Capital. Following the sale of the 45.4% stake, Reliance Capital retains a 2.47% ownership stake in Reliance Home Finance.

Real Estate

01 Dec 2025

Serene, Gardencity to Develop Rs 3 Billion Senior Living Project in Bengaluru

Serene Communities, a leading senior living brand, has partnered with Gardencity Realty to develop a premium senior living community in Budigere, one of Bengaluru’s fastest-growing residential micro-markets. The project will span approximately 300,000 sq ft, with a Gross Development Value of about Rs 3 billion, and will add roughly 250 senior-friendly residences to the city’s growing retirement housing segment.The launch forms part of Serene Communities’ national expansion strategy. The company has 11 new projects under development with a planned investment of Rs 25 billion that will add..

Alliance City Developers Marks Major 2025 Milestones in Vile Parle

Alliance City Developers Realtors has announced significant project milestones and expansions in 2025, underscoring what the company terms a transformational year. The developer completed multiple residential projects and launched two premium developments in Vile Parle (East), one of Mumbai’s most sought-after neighbourhoods.During the year, Alliance Legacy in Matunga (East) received its Occupancy Certificate (OC), while Alliance Eternis in Borivali (West) and Alliance Vista in Vile Parle (East) were granted Completion Certificates (CC), marking final project delivery. Alliance Abhimanyu is ..

Moro Hub and PwC Middle East Partner to Accelerate Smart City Solutions

Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (DEWA), has announced a strategic collaboration with PwC Middle East to advance Smart City, Integrated Command Centre (ICC), Critical Infrastructure Monitoring and Internet of Things (IoT) initiatives across the region. The partnership brings together Moro Hub’s digital infrastructure and IoT capabilities with PwC’s global expertise in digital trust, smart city strategy and cybersecurity to support the UAE’s vision for intelligent and sustainable cities.“Our collaboration with PwC Middle Ea..