Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Reliance Capital Plans to Reduce Debt by Rs 10,000-12,000 Crore in 3-4 Months

In a release, the company Thursday said it would monetise 43 per cent of its stake in Reliance Nippon Life Asset Management (RNAM) and 49 per cent shareholding in Reliance General Insurance Company Ltd (RGICL).

PTI

Updated:March 7, 2019, 2:56 PM IST
facebookTwitterskypewhatsapp
Reliance Capital Plans to Reduce Debt by Rs 10,000-12,000 Crore in 3-4 Months
File photo of Anil Ambani.
Loading...

New Delhi: Reliance Capital plans to reduce its overall debt by Rs 10,000-12,000 crore in the next three to four months through stake sale in two ventures and monetisation of several non-core investments.

In a release, the company Thursday said it would monetise 43 per cent of its stake in Reliance Nippon Life Asset Management (RNAM) and 49 per cent shareholding in Reliance General Insurance Company Ltd (RGICL).

RGICL is a wholly-owned subsidiary of Reliance Capital.

Reliance Capital said it has an overall strategy to reduce debt by approximately "Rs 10,000-12,000 crore in the next 3-4 months". The transactions would help the company to bring down the debt burden by around 50-60 per cent.

The reduction in Reliance Capital's debt would be achieved through "monetisation of its 43 per cent stake in RNAM and 49 per cent stake in RGICL, along with several non-core investments", the release said.

The completion of these transactions would be a major step forward in Reliance Capital's deleveraging strategy, it added.

According to the release, the company would monetise its 43 per cent stake in RNAM, which is currently valued at over Rs 5,000 crore. The strategic sale of the controlling stake in RNAM is expected to be at a significant premium to market, it added.

The preliminary papers for the initial share sale of RGICL was submitted to markets regulator Sebi last month.

Further, Reliance Capital said it is at an advanced stage of monetising several valuable non-core investments, including inter alia, a strategic stake sale in Prime Focus and other media assets.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 54.10 -15.60
Maruti Suzuki 5,971.75 -2.02
Indiabulls Hsg 394.75 -5.84
ICICI Bank 386.60 -3.19
HDFC 1,974.60 -0.69
Company Price Change %Gain
Maruti Suzuki 5,938.30 -2.55
Yes Bank 54.15 -15.52
Tata Power 64.65 0.94
Indiabulls Hsg 395.15 -5.73
ICICI Bank 386.55 -3.16
Top Gainers
Company Price Change %Gain
Tata Motors 124.20 2.01
UPL 562.05 0.90
HDFC Bank 1,101.05 0.66
Bharti Airtel 337.60 0.60
Coal India 193.45 0.57
Company Price Change %Gain
Tata Motors 124.25 1.97
HDFC Bank 1,100.40 0.64
Bharti Airtel 337.70 0.58
Coal India 193.45 0.49
Asian Paints 1,554.35 0.40
Top Losers
Company Price Change %Gain
Yes Bank 54.10 -15.60
Zee Entertain 308.85 -7.92
Tata Steel 344.65 -3.80
IndusInd Bank 1,282.25 -3.62
ICICI Bank 386.60 -3.19
Company Price Change %Gain
Yes Bank 54.15 -15.52
Tata Steel 344.95 -3.66
IndusInd Bank 1,281.95 -3.59
ICICI Bank 386.55 -3.16
Maruti Suzuki 5,938.30 -2.55

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results