Besides, the company has also decided to raise its borrowing powers to Rs 10,000 crore from Rs 8,000 crore.
The resolutions were passed by company's shareholders after the postal ballot activity on December 15.
Besides, a resolution was also passed with regard to related party transactions up to an aggregate limit of Rs 350 crore.
GIC Housing Finance share closed at Rs 215.30 apiece on BSE today, up 4.16 per cent.