LIC Housing Finance to acquire 19.3% stake in LIC Nomura Mutual Fund Asset Management Company

LIC Housing Finance will acquire 19.3 percent stake in LIC Nomura Mutual Fund Asset Management Company for Rs 27 crore. Besides, the company will also buy stake of a similar percentage in LIC Nomura Fund Trustee Company for about Rs 1.5 lakh. Both the proposals were approved at its board meeting held on December 15, 2015. 

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.