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LIC Housing Finance to raise atleast Rs 300 crore via bonds

03 Aug 2011 Evaluate

LIC Housing Finance, one of the largest housing finance companies in India is planning to raise atleast Rs 300 crore through 3-year bonds at 9.80 percent coupon rate. Recently, LIC Housing Finance had unveiled a new home loan product ‘Freedom’ on a floating rate basis. As per the scheme, loans up to Rs 30 lakh would be offered at 9.9%, loans between Rs 30-75 lakh at 10.35% and loans of Rs 75-lakh-Rs 1.5-crore can be availed at 10.75%.

The company’s net profit for the quarter ended June 30, 2011 has surged by 20.98% at Rs 256.50 crore as compared to Rs 212.02 crore for the quarter ended June 30, 2010. Its total income increased by 39.73% to Rs 1418.18 crore for the quarter from Rs 1014.930 crore for the corresponding quarter of the previous year.

LIC Housing Finance has one of the widest networks of 205 offices across the country and representative offices at Dubai & Kuwait.

LIC Housing Finance Share Price

540.05 5.20 (0.97%)
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