LIC Housing Finance today said it has received the approval from its board for the allotment of one crore equity shares to institutional investors through private placement basis.
In a filing to the Bombay Stock Exchange, the home loan provider said its board of directors has approved further issue of one crore shares through placement with qualified institutional investors.
The company would seek the approval from its member for the issue of these shares during its annual general meeting (AGM) to held on July 21, it further added.
Shares of LIC Housing Finance were trading at Rs 527.60, down 0.32 per cent on the BSE.
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