Reliance Capital to reduce debt by INR 1000- INR 12000 crore

Reliance Capital Limited, a part of Reliance Group, today announced its overall strategy to reduce its debt by approx. Rs. 10,000 – 12,000 crore in the next 3-4 months.

This substantial 50 – 60% reduction in RCAP’s debt, will be achieved by monetisation of its 43% stake in RNAM and 49% stake in RGICL, along with several non-core investments. The completion of these transactions will be a major step forward in Reliance Capital’s deleveraging

The key highlights are:

  • Reliance Capital to monetise its 43% 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
  • Reliance Capital to monetise its 49% stake in RGICL (presently 100% owned). RGICL has filed the DRHP for an IPO with SEBI on February 8, 2019
  • Reliance Capital is at an advanced stage of monetising several valuable non-core investments, including inter alia, a strategic stake sale in Prime Focus Ltd. and other media assets