Authum emerges as highest bidder for Reliance Home Finance


Voting for the Rs 11,200-crore debt resolution process of the Anil Ambani firm began on May 31 and concluded on June 19



Authum Investment & Infrastructure Ltd has emerged as the highest bidder for Reliance Home Finance, the Anil Ambani group firm.

Sources said that the NBFC has been selected as the top bidder by the lenders of Reliance Home Finance, led by Bank of Baroda.

Authum made the highest bid of Rs 2,900 crore of which the lenders would receive Rs 2,587 crore, or 90 per cent, upfront and the remaining Rs 300 crore within a year.

Voting for the Rs 11,200-crore debt resolution process of the Anil Ambani firm began on May 31 and concluded on June 19. It saw participation from over 91 per cent of the lenders by value.

The other bidders included ARES SSG (a global fund with over $8 billion under management) along with Assets Care & Reconstruction Enterprise Ltd; Avenue Capital (a global fund with over $9.5 billion under management) jointly with Arcil and domestic NBFC Capri Global Capital Ltd.

Authum is a domestic NBFC with around 15 years of presence and net worth of over Rs 1,500 crore as on December 31, 2020. The resolution plan of Authum was selected as it offered the highest net present value and has fewer and reasonable conditions, sources said.

Its bid also scored highest in terms of ease of implementation and was found to be comprehensive for all the stakeholders, including the employees and customers of Reliance Home Finance, they added.

Though the plan has been selected, a few more lenders are yet to give their approval because of internal delays.

The resolution of Reliance Home Finance is the only successful one after Altico in March 2020.





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