Reliance Commercial Finance Limited entered into a letter of intent to acquire all assets of Reliance Home Finance Limited (BSE:540709) (RHF) for INR 29.1 billion on June 19, 2021. The consideration includes a deferred interest payment of INR 240 million. The Board of Directors of RHF has also appointed a committee to take further steps in the matter. The transaction has been approved by the lenders of Reliance Home. The transaction is to statutorily and regulatory approvals. The implementation of the resolution plan is subject to approval of non-ICA Lenders, shareholders, regulatory authorities and, vacation of existing legal injunctions on RHF.

Reliance Commercial Finance Limited completed the acquisition of all assets of Reliance Home Finance Limited (BSE:540709) (RHF) on March 31, 2023.