Reliance Home Finance Ltd (RHFL), the housing finance unit of Anil Ambani-controlled Reliance group, today listed its shares on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
The stock opened at Rs 107.2 in the opening tick and trading at Rs 109.20 in the mid session on the NSE.
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 period, Ravindra Sudhalkar, CEO, Reliance Home Finance said.
The listing will also unlock substantial value for all stakeholders, he said.
The company had earlier announced all shareholders of Reliance Capital Ltd have already received one free share of Reliance Home Finance Ltd for every share held in Reliance Capital.
Reliance Capital will hold a 51 per cent stake in Reliance Home Finance Ltd and the company is adequately capitalised to grow the lending book multi-fold in the future.
Reliance Home Finance has Assets under management (including securitised portfolio) of Rs 13,022 crore (USD 2.0 billion) as of June 30, 2017.
Reliance Capital, which is present across insurance, mutual fund and a host of other financial services sectors, said its core businesses have achieved double digit growth in profitability in terms of operating performance during the last fiscal.
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