LIC Housing Finance, the home-loan arm of the country’s largest insurer, Life Insurance Corporation of India (LIC) reportedly is planning for raising atleast Rs 150 crore via one-year two-day bonds at 9.96%. Axis Bank is the sole arranger to the bond sale.
LIC holds 40.31% stake in LIC Housing Finance while, institutional investors, both foreign and domestic together, and others are holding 45.29% and 14.40% of the stake respectively.