Authum Investment & Infrastructure Ltd issues highest bidder to acquire assets of Reliance Home Finance Ltd


Authum Investment & Infrastructure Ltd emerged on 19.06.2021 as the highest bidder for the acquisition of all assets of Reliance Home Finance Limited (“RHFL”) as part of the RBI (Prudential Framework for Resolution of Resolution) process. Stressed Assets) Directions, 2019 dated June 7, 2019 (“RBI Guidelines”). In this regard, the Lead Bank (on behalf of RHFL Lenders under the Inter-Creditor Agreement (ICA)) has issued a letter of intent (‘LOI’) dated 19.06.2021 in favor of our Society. The Letter of Intent is subject to the terms and conditions set out in the Letter of Intent, including legal and regulatory approvals.

The company believes that the acquisition of RHFL, a renowned loan franchise for the affordable housing and housing segments, makes the company a significant player in diversified financial services.

The Letter of Intent has been issued to declare the Company as the successful bidder in connection with the acquisition of all assets of Reliance Home Finance Limited as part of a resolution process in accordance with the instructions of the Reserve Bank of India (Prudential Framework for Resolution of Stressed Assets), 2019 dated June 7, 2019.

The company had submitted an offer of Rs. 2,911 crore (including Rs. 24 crore as deferred interest) to the financial creditors subject to the terms and conditions of the offer document which was approved by the lenders at their meeting held. June 19, 2021.

Authum Investment & Infrastructure Limited (“Authum”), is a non-bank finance company (NBFC, Non-Public Deposittaking) registered with the Reserve Bank of India, with assets under management (AUM) of approx. Rs. 2,200 crore to date.

Authum is currently managed by a team of professionals with significant experience in investing in domestic, public and private space. Authum’s investment strategy is the creation of long-term value through investments in listed companies, provision of growth capital to unlisted companies, acquisition of financial assets, real estate investments and investments. selected debt.

Authum is currently well positioned to grow into a diversified finance department in the years to come by pursuing a combination of organic and inorganic growth opportunities.

As part of our future diversification strategy, we are extremely excited about the growth potential of affordable housing, home loans, retail, consumer credit, SME and MSME loans, as well as a solid digital game. We believe that these segments are major engines of the national economy with significant unmet demand and have the potential to touch the lives of millions of people in the country.

Authum is prepared to honor its financial commitment to RHFL’s lenders under the LOI. As part of its core investment strategy and principles of value preservation and long-term value creation, Authum will leverage existing customer base, employees, processes, licenses, knowledge, RHFL’s infrastructure, branch network and digital platform. Subject to the terms of the LOI, Authum is committed to ensuring the well-being of RHFL employees, by recruiting new talent, in order to ensure the continuity of services to RHFL clients.

Authum Investment & Infrastructure Ltd shares were last trading in BSE at Rs.574.45 from the previous close of Rs. 563.2. The total number of shares traded during the day was 5,130 in more than 119 trades.

The stock hit an intraday high of Rs. 574.45 and an intraday low of 574. Net turnover during the day was Rs. 2,946,834.

Reliance Home Finance Ltd shares were last trading in BSE at Rs 5.7 from the previous close of Rs. 5.43. The total number of shares traded during the day was 7,826,255 in more than 5,942 transactions.

The stock hit an intraday high of Rs. 5.7 and an intraday low of 5.16. The net turnover during the day was Rs. 43,523,443.


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