LIC Housing Finance is planning to mop-up Rs 700-1,000 crore through External Commercial Borrowings (ECB).
The company is mulling the same after the Reserve Bank of India (RBI), last month, allowed real estate developers and housing finance companies to raise up to $1 billion through ECBs in the current fiscal to promote low-cost housing projects.
LIC holds 40.31% stake in LIC Housing Finance while, institutional investors, both foreign and domestic together, are holding 41.47% shares, others hold 18.22% shares.
