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Authum Investment to acquire all assets of Reliance Home Finance; shares up 2%

The Letter of Intent has been issued by Bank of Baroda (on behalf of the lenders) declaring the company as the successful bidder in the relation to the acquisition of all assets of Reliance Home Finance.

June 21, 2021 / 09:53 AM IST
 
 
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Share prices of Reliance Home Finance and Authum Investment & Infrastructure rose 5 percent and 2 percent respectively in early trade on June 21 after the latter emerged as the successful highest bidder for acquisition of all assets of Reliance Home Finance.

Shares of Authum Investment & Infrastucture touched a 52-week high of Rs 585.90 and Reliance Home Finance touched a 52-week high of Rs 5.98.

The Letter of Intent has been issued by Bank of Baroda (on behalf of the lenders) declaring the company as the successful bidder in the relation to the acquisition of all assets of Reliance Home Finance.

The company had submitted a bid of Rs 2,911 crore (which includes Rs 24 crore as deferred interest) to financial creditors subject to the terms and conditions of the bid Document which has been approved by the lenders at their meeting held on June 19, 2021.

We believe that the acquisition of RHFL, a reputed lending franchise to affordable housing and housing segments make our company a significant player in diversified financial services, Authum Investment said in the release.

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At 09:30 hrs, Authum Investment & Infrastucture was quoting at Rs 585.90, up Rs 11.45, or 1.99 percent and Reliance Home Finance was quoting at Rs 5.98, up Rs 0.28, or 4.91 percent on the BSE.
Moneycontrol News
first published: Jun 21, 2021 09:53 am
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