Authum Investment to acquire all assets of Reliance Home Finance
Shares of Authum Investment & Infrastructure rallied 2% in early trade on June 21 on emerging as the successful highest bidder for acquisition of all assets of Reliance Home Finance (RHFL).
Shares of Authum Investment & Infrastucture touched a 52-week high of Rs 585.90 apiece.
Bank of Baroda (on behalf of the lenders) has issued Letter of Intent, 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.
Authum Investment believes 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.
Meanwhile, Reliance Home Finance shares rose 5% and touched a 52-week high of Rs 5.98.
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