Rel Home Fin shares jump 5% on debut

Source: The Hitavada      Date: 23 Sep 2017 11:00:50


MUMBAI,

Sept 22,

(PTI),

SHARES of Reliance Home Finance, the housing finance unit of Reliance Capital, rose by 5 per cent in its debut trade on Friday and commanded a market valuation of Rs 5,291.35 crore.The stock opened the day at Rs 104 on BSE. It later gained 5 per cent to Rs 109.20 - its upper circuit limit. On the NSE, shares of the company listed at Rs 102.10 and jumped 4.99 per cent to touch its highest trading permissible limit for the day at Rs 107.20. In terms of equity volume, 11.55 lakh shares of the company were traded on BSE and over 10 lakh shares changed hands at NSE during the day.

Speaking about RHFL’s listing, Anmol Ambani, executive director of Reliance Capital said: “The listing results in Reliance Capital shareholders directly owning stake in RHFL, with over 9 lakh shareholders, the largest shareholder base in a housing finance company.” “Our focus remains on affordable housing and you will see proportion of that increasing in our overall book,” he said. The company is looking to grow loan book at 50 per cent compound annual growth rate (CAGR) over the next three years.