Authum Investment & Infrastructure Ltd's arm aquires Business Undertaking of Reliance Home Finance Ltd

The Resolution Plan comprising the total Resolution amount of Rs. 3,351 crore has been implemented through Authum Investment & Infrastructure Limited's wholly owned subsidiary viz. Reliance Commercial Finance Limited ('RCFL') and RCFL has acquired Business Undertaking of Reliance Home Finance Limited ('RHFL') on a slump sale and going concern basis, pursuant to the approved Resolution Plan of RHFL being conducted by the Financial Creditors of RHFL in terms of RBI Circular No. RBI/2018-19/ 203, DBR.No.BP.BC.45/21.04.048/2018-19 dated June 7, 2019 on Prudential Framework for Resolution of Stressed Assets and the order of Hon'ble Supreme Court of India dated 3rd March, 2023.

Authum Investment and Infrastructure Limited ('AUTHUM'), is a Non-Banking Finance Company (NBFC, Non-Public Deposit taking) registered with Reserve Bank of India, focuses on equities in India, through investments in public listed and unlisted companies (by providing growth capital), debt financing, private equity investments, real estate, mutual funds, etc.

Authum through its wholly owned subsidiary, RCFL holds financial products, including SME loans, loans against property, Infra financing, agriculture loans & vehicle loan.

The acquired Business Undertaking of RHFL includes movable, immovable, investments, securitized and non securitized loan portfolio consisting of affordable home loans, home loans, loan against property, construction finance, etc.

This transaction strengthens the Authum's business portfolio.

Source : Equity Bulls

Keywords

AuthumInvestmentandInfrastructure ResolutionPlan Acquisition RelianceHomeFinance