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Reliance Home Finance Share Price: Shares of Anil Ambani's housing finance company Reliance Home Finance Limited will be in focus during trading tomorrow on Monday. Actually, businessman Anil Ambani is reviewing the order of capital market regulator SEBI. He will take appropriate action based on legal advice. His spokesperson said this on Sunday. Let us tell you that the Securities and Exchange Board of India (SEBI) has banned Anil Ambani from the capital market for five years. Last Friday, the company's shares fell 5% to Rs 150. Closed at 4.45 pm.
A spokesperson for the company
Anil Ambani has resigned from the board of directors of Reliance Infrastructure Limited and Reliance Power Limited on August 11, 2022, to comply with the interim order of SEBI in a case related to Reliance Home Finance Limited (RHFL), a statement said. They have been complying with the interim order for the last two and a half years (dated February 11, 2022), SEBI in its order dated August 22 booked Anil Ambani and 24 others on charges of misappropriation of funds, the statement said. Banned from securities market for five years “Anil Ambani is reviewing the final order dated August 22, 2024 passed by SEBI in the above case and will take further action as per legal advice,” the spokesperson said. Ambani has been fined Rs. 25 crore, had planned to misappropriate funds of Reliance Home Finance, a listed subsidiary of Reliance Group. Under the ban, Anil and 24 other entities will not be able to transact in the stock market. They will be prohibited from buying, selling or any other type of transaction directly or indirectly in the stock market.
Let us tell you that Anil Ambani's Reliance Group includes financial services, infrastructure and telecommunications, while the elder brother got the traditional oil refining and petrochemical business. In the past few years, Anil Ambani has bankrupted the three largest companies of the group due to outstanding debt, including Reliance Communications, Reliance Capital and Reliance Infrastructure.
Company
Talking about the history of Reliance Home Finance shares, its price was Rs 6.22 on January 9, 2024. The stock is at a 52-week high. So on August 17, 2023, the stock was at Rs 1.61. This is the lowest level of 52 weeks of this stock. A few years ago, the stock touched the level of Rs 120. Public shareholding in Reliance Home Finance is 99.26 percent. Anil Ambani's family holds 0.74 percent. Life Insurance Corporation of India i.e. LIC has a major stake among the public shareholders. LIC holds 74,86,599 shares of Reliance Company. That is, it is equal to about 1.54 percent stake.