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Reliance Capital sells 45% stake in home finance arm for Rs.54-Cr

Economic Times  

Reliance Capital has sold a 45% stake in listed subsidiary Reliance Home Finance for INR 54 crore in the open market, a move that is expected to improve recovery for lenders. Reliance Capital, a Reliance Anil Ambani Group finance company that is undergoing corporate insolvency, is now left with an under under 2.5% stake in Reliance Home Finance. Lenders to Reliance Capital have approved a INR 9,660 crore resolution plan offered by Hinduja Group-promoted IndusInd International Holdings.