Reliance Home Finance has extended maturity of certain Non-convertible debentures (NCDs) of Rs 400 crore till October 31, 2019 in view of continuing severe liquidity crisis in the sector. The extension of maturities by mutual consent is a recognised global practice to deal with severe dislocations in capital markets, and does not in any sense constitute a default. The extension of maturity has been made purely to address timing mismatches in receipt of proceeds from the ongoing monetisation of retail asset pools of the Company.
Reliance Home Finance is engaged in providing housing finance. It provides housing loans, home improvement loan, home extension loan and reliance property solutions. It offers home loans to individuals and companies. It operates as a subsidiary of Reliance Capital.