Mumbai, Aug 28 (IANS): Reliance Capital Ltd, part of the Anil D. Ambani-led Reliance Group, on Monday announced the record date for allotment of equity shares of Reliance Home Finance Ltd.
In a statement issued here Reliance Capital said all persons who are shareholders of Reliance Capital as on September 6, will receive one free share of Reliance Home Finance for every share held in Reliance Capital.
"The transfer was earlier approved by an overwhelming majority of 99.59 per cent votes in favour of the Scheme of Arrangement at the Tribunal-convened general shareholders meeting held on July 24, 2017, and other requisite approvals have duly been received," the statement said.
Reliance Capital will hold a 51 per cent stake in Reliance Home Finance, and the company will be adequately capitalised to grow the lending book multi-fold in future.
Reliance Home Finance has assets under management (including securitised portfolio) of Rs 13,022 crore as of June 30.