Lenders select Authum Investment's Rs 2,900 cr bid for Reliance Home Fin

Photo: Bloomberg
Authum Investment, a Mumbai-based NBFC, has been selected as the highest bidder for Reliance Home Finance Limited (RHFL). The company made an offer Rs 2,900 crore to RHFL lenders.

The voting on RHFL offers, which started on May 31 and concluded on June 19, saw participation of over 91 per cent of the lenders by value.

Authum’s plan was selected after it offered the highest net present  value (NPV) for the company.

The resolution of RHFL will help the debt reduction plans of its parent, Reliance Capital Ltd, whose debt will come down by 25 per cent or Rs 11,200 crore.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel