LIC

LIC Housing Finance Will Raise Rs 2,334 Crores

Raise funds by issuing equity to the Indian Life Insurance Company (LIC). In the regulatory documents, the housing finance company stated that it will issue 45,400 shares to LIC at a price of 514.25 rupees per share. After the allotment, LIC's shares in the company increased to 45.24%, while the shareholding ratio before the issuance was 40.31%. The company will seek shareholders’ approval for the proposed priority allotment at an extraordinary general meeting on July 19.