Reliance Home Finance going for a song to this bidder
New Delhi: Even the deadline for voting for bids for beleaguered Reliance Home Finance has been extended, home grown NBFC Authum is quite close to acquiring the Anil Ambani led company for Rs 2887 crore. The voting bids for the troubled home finance company started on 31 May. Authum Investment and Infrastructure’s bid has been preferred by the lenders of Reliance Home Finance. The entire bidding process was managed by BOB Capital Markets and Ernst & Young along with Bank of Baroda as the lead banker.
The resolution plan offered by Authum has managed to cross the minimum threshold required for acquiring the home finance company. The voting for the bids was earlier scheduled to be concluded by Tuesday.
The other bidders for Reliance Home Finance are global fund Ares SSG, Capri Global Capital, Avenue Capital in partnership with ARCIL and Assets Care and Reconstruction Enterprise (ACRE).