Mumbai, Sept. 22: Shares of Reliance Home Finance Ltd (RHFL), the housing finance unit of Reliance Capital, rose 5 per cent in its debut trade today, commanding a market valuation of Rs 5,291.35 crore.

The stock opened at Rs 104 on the BSE and went on to gain 5 per cent to hit the upper circuit of Rs 109.20.

On the NSE, the shares of the company listed at Rs 102.10 and jumped 4.99 per cent to touch its highest trading limit for the day at Rs 107.20.

In terms of volume, 11.55 lakh shares were traded on the BSE and over 10 lakh shares changed hands on the NSE during the day.

Anmol Ambani, executive director of Reliance Capital, said: "The listing results in Reliance Capital shareholders directly owning stake in RHFL. With over nine lakh shareholders, this will be the largest shareholder base in a housing finance company."

"Our focus remains on affordable housing and you will see proportion of that increasing in our overall book," he said.

The company is looking to grow its loan book at a compounded annual growth rate of 50 per cent over the next three years, said Ravindra Sudhalkar, the CEO of Reliance Home Finance.

The company had earlier announced that all shareholders of Reliance Capital have received one free share of Reliance Home Finance for every share held in Reliance Capital.

Reliance Capital will hold a 51 per cent stake in Reliance Home Finance and the company is adequately capitalised to grow the lending book multi-fold in the future.

Reliance Home Finance has assets under management of Rs 13,022 crore ($2 billion) as on June 30, 2017. Reliance Capital, which is present across insurance, mutual funds and a host of other financial services, said its core businesses had achieved double-digit growth in profitability in terms of operating performance during the last fiscal.