GIC Housing Finance has raised Rs 195 crore through issuance of non-convertible debentures (NCDs) to Aditya Birla Sun Life Mutual Fund on private placement basis. The NCDs have been allotted to Aditya Birla Sun Life Mutual Fund and carry an interest rate of 6.94 per cent per annum.
GIC Housing Finance’s primary business is granting housing loans to individuals and to persons/entities engaged in construction of houses/flats for residential purposes.