Connect with us

Hi, what are you looking for?

Bnreport Business News Report

Finance

Reliance ARC looks to raise fresh funds

MUMBAI: Reliance ARC, the asset reconstruction arm of the An..

MUMBAI: Reliance ARC, the asset reconstruction arm of the Anil Ambani Group, plans to raise fresh funds as it makes renewed bids to buy bad loans from banks.

The company will raise up to Rupee75 crore through the sale of non-convertible debentures to institutional investors as early as next month, CEO Ravindra Rao said.

“This will be our first-ever debenture issuance and will make us a deemed listed company and give us some fresh funds to buy more bad assets. We continue to enjoy credit lines from a few state-run banks,” said Rao, who took over as CEO of Reliance ARC in March.

A part of Reliance Capital, Reliance ARC received the RBI licence in February 2008. However, it has consciously stuck to buying small loans owed to banks by small enterprises and individuals. Hence, its assets under management (AUM) of Rupee2,000 crore are less than those of larger peers such as Edelweiss ARC, which has about Rupee45,000 crore in AUM.

The companys total equity base is Rupee160 crore and total debt Rupee135 crore, giving it a debt to equity ratio of 0.8 times.

Original Article

[contf]
[contfnew]

ET Markets

[contfnewc]
[contfnewc]

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Politics

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae.

Finance

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.

Tech

Enlarge/ You wouldn't really want to use Nvidia's ..

Finance

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora.

%d bloggers like this: