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Authum Investment is buying Reliance Commercial Fin in the amount of KR 1,629 – Current Globe News

Authum Investment is buying Reliance Commercial Fin in the amount of KR 1,629


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Authum Investment and Infrastructure plans to take over Reliance Commercial Finance (RCFL) under the leadership of Anil Ambani upon completion of the reorganization process in accordance with the 2019 Reserve Bank of India (Prudential Framework for Resolution of Stress Assets) guidelines.

Lenders approved an offer of 1,629 kroner made by Authum at a meeting on Thursday and a letter of intent was issued in favor of the company’s offer.

The resolution will result in a total reduction in Reliance Capital’s debt by more than 9,000 kroner.

Authum’s RP elected Reliance Commercial Finance

RCFL offers a wide range of products, including anti-property loans, MSME / SME loans, infrastructure financing, education loans and microfinance.

Authum Investment and Infrastructure, a non-banking financial company has more than 15 years of presence and a net worth of about 2360 re at the end of June.

Authum is currently managed by a team of professionals with significant investment experience in domestic, public and private capital. Authum’s investment strategy is long-term value creation through investments in listed companies, providing capital for the growth of unlisted companies, acquisition of financial assets, real estate investments and debt investments.

Further, the proposed acquisition of Reliance Commercial Finance strengthens the business portfolio and enables the development of a single platform for multiple financial products and services in the NBFC sector, it is stated.

Acquisitions offer the opportunity to grow by combining commercial finance, MSMEs / SMEs, affordable housing, real estate loans, retail and consumer finance, along with a powerful digital and technological game to create higher returns.

A vote is underway to resolve Reliance Commercial Finance’s debt

These segments are the main drivers of the economy with significant unfulfilled demand, the text states.

Authum is ready to meet its financial obligations to RCFL lenders under the Internal Law Act.

The company will rely on RCFL’s customer base, employees, processes, licenses, branch network and digital platform to create a niche lending platform, he said.

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