At Rs 2,887 crore, Authum is top bidder for Reliance Housing Finance

Authum Investment and Infrastructure, a Mumbai-based firm, is leading in the race to acquire Reliance Housing Finance (RHFL).  According to the plan, lenders will recieve Rs 2,887 crore along with the cash on RHFL’s books — Rs 1,800 crore.   Of the Rs 2,887 crore, 90 per cent of the amount will be paid upfront while the rest will be paid in a year.   A subsidiary of Reliance Capital, the housing finance company had defaulted on Rs 11,000 crore of loans, leading to lenders seeking bids from investors.   Authum is a domestic non-banking finance company (NBFC.....

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