Question:- Recently Reliance’s home finance business demerged from Reliance Capital. What will be the percentage of stakes held by Reliance Capital in the Reliance Home Finance after the demerger?
(a) 41%
(b) 62%
(c) 51%
(d) 30%
Answer:- (c)
Related facts:-
- On August 11, 2017, National Company Law Tribunal (NCLT) approved the demerger of home finance business from Reliance Capital.
- NCLT also approved the vesting of the demerged undertaking from the company to Reliance Home Finance Ltd.
- Reliance Capital will hold a 51 per cent stake in Reliance Home Finance, and the company will be adequately capitalised to grow lending in the next 18 months.
- Reliance Home Finance has assets under management (including securitised portfolio) of Rs 13,022 crore as of June 30.
Resource links:
http://www.business-standard.com/article/news-ians/tribunal-approves-demerger-of-home-finance-from-reliance-capital-117081100348_1.html