Only buyers in Reliance Capital & Reliance Home Finance (RHF) as Authum selected as H1 bidder by RHF lenders

One of the most important factors that sweetened the deal was that the plan addressed all the stakeholders including RHF employees and customers.

ADAG group stocks are hogging limelight and enticing investors to take long positions in them. However investors are not able to take positions in select counters of ADAG group stocks such as Reliance Home Finance (RHF) and Reliance Capital as these counters have only buyers and no sellers. Such is the story for last several trading sessions.

Market is abuzz with the update that Authum Investment and Infrastructure, a NBFC with around 15 years of presence and over Rs 1,500 crore net worth as on December 31, was selected by the lenders of Reliance Home Finance Ltd (RHF) as the winning bidder.

It is touted that the lenders selected Authum’s plan as it offered the highest NPV. Also, the plan proposed involved paying the proceeds to the lenders in less than 1 year with upfront payable to be at 90 per cent.

One of the most important factors that sweetened the deal was that the plan addressed all the stakeholders including RHF employees and customers.

The plan even though approved by majority of the lenders is waiting to be approved by the remaining lenders. This resolution process is led by Bank of Baroda while BoB Capital Markets  (BoB Caps) and EY are acting as advisors. The current RHF resolution is one of the successful resolutions which will also help Reliance Capital reduce its debts by a good margin.