LIC Housing Finance’s parent organization -- Life Insurance Corporation (LIC) has picked up nearly 4 per cent equity shares of Bank of India through an open market transaction a day earlier. Before the latest acquisition of shares in the bank, LIC held over a 3.17 per cent stake in Bank of India. LIC's stake in Bank of India has now increased to 7.05 per cent, equivalent to 28,92,87,324 shares.
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.
