 "Reliance Life, General Insurance listing in pipeline")
Reliance Capital Ltd ( RCL) is looking at an option to list it's life insurance, general insurance and commercial financial businesses on stock exchanges.
It is also targetting to list housing Finance arm by April 2017.
Anil Ambani, Chairman of RCL addressing annual general meeting ( AGM) today voiced opposition to regulatory move for making listing mandatory for insurance businesses.
Mandatory listing is not desirable while optional listing is. The company will look at listing businesses including, life and general insurance, commercial Finance at appropriate time in future, Ambani said addressing volley of queries from investors at AGM.
"We have to do what is right for shareholders and growth of company," he said.
Responding to demand for better returns for sharehders, Ambani said the company will spell out dividend policy. It was committed to increase dividend payout Ratio.
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RCL is converting itself into core investment company with focus on investing into financial sector businesses.
RCL is also examining proposal to change financial year from April-March period to January-December, to align with calendar gear.
About Reliance housing, the proposal to give 49 per cent stake in company to all shareholders of Reliance Capital. Reliance Capital will hold a 51 per cent stake in Reliance Home Finance.
Reliance Capital has a net worth of Rs. 15,390 crore (US $2.3 Billion) and total assets of Rs 67,112 crore (US $10.2 Billion) as on March 31, 2016.