LIC Housing Finance to raise up to Rs 47,000 crore

LIC Housing Finance Ltd (LHFL) today it will raise up to Rs 43,000 crore via non-convertible debentures on private placement basis.
"... To issue redeemable Non-Convertible Debentures (NCDs) secured or unsecured, any other hybrid instruments which can be classified as being Tier II capital up to an aggregate amount not exceeding Rs 43,000 crore," the company said in a BSE filing.
The amount will be raised in one or more series, during a period of one year commencing from the date of this meeting, on a private placement basis, it said in the filing, releasing minutes of the Annual General Meeting held in mid-August.

Similarly, the board approved entering into a related party transaction to raise an additional Rs 4,000 crore.
"... Raising fund through loans/NCDs/bonds/similar such instrument, including securitisation, to take property on lease/rent, avail/render any services or any other transaction which construe to be related party transactions with the related party/parties up to Rs 4,000 crore," it said.
Shares of the company today closed 2.52 per cent lower at Rs 403.05 apiece on the BSE.