Saturday , October 23 2021

Reliance Capital to raise Rs 10,000 crore by selling assets in FY20

Reliance Capital is expecting to raise Rs 10,000 crore by selling assets and cut down its debt by about 50 percent in the current fiscal (FY20). The company has been working diligently to ensure timely debt repayments and is regular in all its debt payments.

The company’s asset monetisation plan is on track and it is in the process of monetising its entire 42.88 percent stake in Reliance Nippon Life Asset Management, which at current market price is valued at over Rs 5,000 crore. The company is also planning to monetise 49 percent stake in Reliance General Insurance Company and the DRHP has recently been filed with the Securities and Exchange Board of India (SEBI).

Reliance Capital, a part of the Reliance Group, is one of India’s leading private sector financial services companies. It has interests in asset management and mutual funds; life, health and general insurance; commercial and home finance; stock broking; wealth management services; distribution of financial products; asset reconstruction; proprietary investments and other activities in financial services.

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