Friday 22 September 2017

Reliance Home Finance zoomed 5% to hit upper circuit on Debut

Reliance Home Finance (RHF) IPO made its first appearance on the exchanges at Rs.102.10 and surged 5% to hit the upper circuit at Rs 107.2 on Friday morning. Reliance Home Finance Limited is the demerged home finance business of Reliance Capital. The stock traded with volumes of 6.24 lakh shares on the NSE.

Reliance Home Finance had AUM (assets under management) worth Rs 13,022 crore as of June 30. Home loans and affordable housing loans contributed 35% and 19% of its portfolio, respectively, while riskier segments such as loan against property and construction loans accounted for 22% and 24.

Shares of Reliance Capital Ltd declined by more than 4.5% to hit the day’s low at Rs 687.5, whereas the shares of Reliance Home Finance listed at the upper circuit of Rs 107.2. The Housing Finance Company managed Rs 13,022 crore AUM as of June end, and is targeting Rs 50,000 crore in assets by financial year-2020.  Reliance Home Finance reported a 58% surge in total income at Rs 374.00crore in June quarter.

1 comment:


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