ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • India
    • Economy
    • Politics
    • Markets
  • World
    • Economy
    • Politics
    • Markets
  • Companies
    • Auto
    • Banking & Financial Services
    • Pharma
    • Energy
    • Infrastructure
    • Media
    • IT
    • Telecom
    • Consumer Products
    • Aviation
    • FMCG
  • Personal Finance
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
  • Mutual Funds
  • Technology
  • Automobile
    • Cars
    • Bikes
  • Small Business
    • SME
    • Startups
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
    • AUTHORS
Home » Companies News

Reliance Capital to list home finance separately arm by April: Anil Ambani

  • Twitter
  • Facebook
  • GPlus
Reliance Capital to list home finance separately arm by April: Anil Ambani
Ambani also said the company is committed to growing its dividend payouts every year. Photo: Wikipedia
By PTI
Updated: Tue, Sep 27, 2016
12:58 pm
Mumbai, PTI
RELATED NEWS
Reliance Capital garners long-term financing of Rs 4,000-cr Reliance Capital garners long-term financing of Rs 4,000-cr
Reliance Capital posts Rs 315 crore net profit in Q3 Reliance Capital posts Rs 315 crore net profit in Q3
Reliance Home Finance debuts on markets; lists at 5% upper circuit Reliance Home Finance debuts on markets; lists at 5% upper circuit
Reliance Capital's insurance arm receives in-principle nod from IRDAI for IPO Reliance Capital's insurance arm receives in-principle nod from IRDAI for IPO
Reliance Capital to treble lending to SMEs, consumers to Rs 50,000 crore Reliance Capital to treble lending to SMEs, consumers to Rs 50,000 crore

Betting big on the financial sector, industrialist Anil Ambani on Tuesday said Reliance Capital expects to list its home finance arm separately by April 2017 while commercial lending and insurance arms can also be listed separately at an "appropriate time".

Besides, it will develop a new vertical for consumer lending business for better growth and profitability and will re-launch its commodity exchange with focus on diamond and crude oil futures. Diamond futures will be the flagship product with potential daily turnover of over Rs 6,000 crore.

Addressing shareholders at AGM of Reliance Capital, the financial services arm of the business conglomerate headed by him, Ambani said the group may look at separate listing of various businesses, including life insurance, general insurance and commercial finance at an appropriate time.

However, he said the approach should be of 'optional listing', rather than mandatory listings and any decision of separate listing of Reliance Capital's various arms will be taken after looking into the interest of the shareholders.

Ambani also said the company is committed to growing its dividend payouts every year.

Talking about various businesses, he said Reliance Cap expects exponential growth in health insurance, going forward, even though it accounts for a smaller portion as of now.

He also said Reliance Capital will apply for conversion to a Core Investment Company (CIC) status by March 2017.

"We are fully committed to growing investments solely in the financial services sector. We will monetise investment in non-core areas and book attractive returns," he added.

Expecting good monsoon, a low interest rate framework and benign inflation to drive tremendous growth in Indian economy, while expecting GST to be a game-changer, Ambani listed out several initiatives to "reap the benefits of this opportunity in financial services".

On housing finance, Ambani said the group is looking to expand its mortgage assets to grow manifold and targetting a loanbook of over Rs 50,000 crore to become one of the top players in the private sector.

Referring to Reliance Capital board's decision last month to independently list Reliance Home Finance, Ambani said he expects the listing to take place by April next year and added that the company will be well-capitalised.

"49 per cent stake in the listed company will be held by you," Ambani told the shareholders of Reliance Capital while adding that the allotment of the shares will be made "free of cost" and the listing would unlock significant value for them.

On transfer of commercial finance business into a separate subsidiary, he said it will enhance management focus and provide flexibility to unlock value through stake sale.

A new vertical for consumer lending will be developed to improve growth and profitability further. Ambani said, "We continue to remain committed to goals of substantial value creation, higher dividends, superior return on equity and top-end ratings at Reliance Capital."

On Reliance Capital's partnership with Nippon Life, Ambani said their Rs 9,000-crore investment in life insurance and asset management businesses represents the largest FDI from Japan in India.

At the AGM, Reliance Cap CEO Sam Ghosh also talked about growth in various businesses of the company.

TAGS:
Reliance CapitalAnil AmbaniCore Investment Company (CIC)Anmol AmbaniReliance Home FinanceBanking & Financial Services
RELATED NEWS
Reliance Capital garners long-term financing of Rs 4,000-cr Reliance Capital garners long-term financing of Rs 4,000-cr
Reliance Capital posts Rs 315 crore net profit in Q3 Reliance Capital posts Rs 315 crore net profit in Q3
Reliance Home Finance debuts on markets; lists at 5% upper circuit Reliance Home Finance debuts on markets; lists at 5% upper circuit
Reliance Capital's insurance arm receives in-principle nod from IRDAI for IPO Reliance Capital's insurance arm receives in-principle nod from IRDAI for IPO
Reliance Capital to treble lending to SMEs, consumers to Rs 50,000 crore Reliance Capital to treble lending to SMEs, consumers to Rs 50,000 crore

LATEST NEWS

RRB Group D result 2019 Latest News: Get result soon; Here's how and where to check your performance

SBI account holder? Your bank has issued fresh warning; Do this to save hard-earned money

India on a Metro Ride: Four new cities to come onboard soon; Ongoing projects list here

Vande Bharat Express suffers breakdown, fails to deliver on the promise

Vande Bharat Express begins first commercial run

Latest RBI Alert: This app can steal all money from your bank account, never download

Six airports' privatisation: AAI receives 32 technical bids from 10 firms

Big smartphone discounts: Get up to Rs 5000 off these mobile phones - Check best deals today

DRDO to showcase technologies and innovations at Aero India: Defence ministry

NEFT, RTGS, IMPS to UPI - Take a look at best options for sending money online

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • Amazon Prime Day
  • Income Tax
  • Bharti Airtel
  • NPA
  • Home Loan

Trending Topics

  • Farm Loans
  • 7th Pay Commission
  • Sanitary Pads
  • National Stock Exchange
  • GST

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved