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LIC Housing Finance plans to mop up Rs 8,000 crore in January-March 2012

28 Dec 2011 Evaluate

LIC Housing Finance is planning to mop up about Rs 8,000 crore in January-March 2012 for meeting its lending needs. The company has already raised about Rs 15,000 crore this year.

For raising the said fund, the housing finance arm of state life insurer Life Insurance Corporation (LIC) will use combination bonds and loans, to be used to fund business growth in the remaining part of the financial year. The company is also in talks with its promoter, LIC, to beef Tier-I capital and support growth in the medium term. The loan portfolio of the company stands at Rs 56,000 crore, which it plans to increase to Rs 100,000 crore in three years.

Besides strengthening its core business of retail home lending, the company would require funds in the last quarter to beef lending to developers for various commercial and housing projects.

LIC Housing Finance Share Price

536.95 -3.10 (-0.57%)
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