Overseas investor in talks with Reliance Home Finance for equity investment

Anil Ambani-controlled Reliance Home Finance Ltd (RFHL) is in talks with an overseas institutional investor for potential equity investment in the mortgage lender.

It is not specified if the investment is a fresh infusion of capital or monetization of part of existing stake held by investors.

RHFL said, “Reliance Home Finance has entered into exclusive discussions with an overseas institutional investor (“Investor”), for a potential equity investment. The discussions are subject to confirmatory due diligence, definitive documentation, and necessary approvals."

RHFL had a net worth of Rs. 17.44 billion (US$ 256 million) and assets under management of more than Rs. 160 billion ($ 2.4 billion) until March 31, 2018.