LIC Housing Finance (LHFL) will raise up to Rs 43,000 crore through Non-Convertible Debentures (NCDs) on private placement basis. The company will issue redeemable NCDs secured or unsecured, any other hybrid instruments which can be classified as being Tier II capital up to an aggregate amount not exceeding Rs 43,000 crore.
The amount will be raised in one or more series, during a period of one year commencing from the date of this meeting, on a private placement basis. The board has similarly approved entering into a related party transaction to raise an additional Rs 4,000 crore.
LIC Housing Finance is one of the largest Housing Finance company in India. The main objective of the Company is providing long term finance to individuals for purchase or construction of house or flat for residential purpose / repair and renovation of existing flat / houses.
