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Anil Ambani told how his debt of 20 thousand crores will end in a jiffy, said this about Reliance Capital

Anil Ambani told how his debt of 20 thousand crores will end in a jiffy, said this about Reliance Capital

Anil Ambani said that after the completion of the resolution of Reliance Home Finance and Commercial Finance, the debt of Reliance Capital will come down by 20 thousand crores. This will be a big relief for Reliance Capital.

Anil Ambani said that the burden of Reliance Capital will be reduced by 50 percent.

Anil Ambani on Reliance Capital: Debt-burdened Anil Ambani said that after the completion of the resolution process of Reliance Commercial Finance (RCF) and Reliance Home Finance (RHF), the debt of Reliance Capital will come down by about 50 percent or 20 thousand crores.

Lenders of Reliance Commercial Finance and Reliance Home Finance have accepted the bid of Autom Investment and Infrastructure Limited to acquire the company. This entire process has been done under the guidelines of the Prudential Framework for Resolution of Stressed Assets 2019 of the Reserve Bank. Reliance Capital holds 100 percent stake in Reliance Commercial Finance, while the company also has a major stake in Reliance Home Finance.

Total debt on Reliance Capital is 40 thousand crores

The total debt on Reliance Capital is about 40 thousand crores. According to Anil Ambani, when the resolution of both the companies is completed, then the debt of Reliance Capital will be reduced by half to around 20 thousand crores. Under the resolution, the debt of these two companies will be removed from the balance sheet of Reliance Capital. This will make it easier for Reliance Capital to do business and this is good news for the company’s stakeholders as well.

The debt on Reliance Capital will be reduced by half

Anil Ambani said that after the completion of this process, Reliance Capital will have a debt of 15,000 crores in the form of non-convertible debentures, which is a secured loan. 5000 crore loan is unsecured.

Deal of both companies for 5100 crores

Talking about the resolution process, Authum Investment will give Rs 2200 crore for Reliance Capital Finance and Rs 2900 crore for Home Finance. The company has promised that it will not fire the current employees of both the companies.

Reliance Capital stock performance

The stock of Reliance Capital closed at Rs 19.70 with a rise of 4.80 per cent today. The 52-week high is Rs 30.65 and the low is Rs 7.10. The company’s market cap is only Rs 497 crore. The promoter holds only 1.5 per cent stake in this company, while the public holds 94.32 per cent. The stock has gained 21 per cent in the last one week. There has been a jump of 65 percent so far this year.

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(PTI input)

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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