Authum Investment, a Mumbai-based NBFC, has been selected as the highest bidder for Reliance Home Finance Limited (RHFL). The company has made an offer of Rs 2,900 crore to RHFL lenders.

The vote on RHFL’s bids, which began on May 31 and ended on June 19, saw over 91% participation of lenders in value.

Authum’s plan was selected after offering the highest net present value (NPV) for the business.

RHFL’s resolution will help the debt reduction plans of its parent company, Reliance Capital Ltd, whose debt will decrease by 25% or Rs 11,200 crore.

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