LIC Housing to raise Rs 400cr via pref issue

LIC Housing Finance (LICHFL), the housing finance arm of LIC of India, is planning to raise fresh capital of Rs 400 crore through preferential allotment in mid-January 2008.

The company proposes to issue 12 million shares, according to S K Mitter, director & chief executive, LICHFL.

The raising of fresh capital is part of the Rs 7,000 crore fund raising plan of the company during the current financial year. Of this, it has already raised Rs 2,600 crore via bonds in the first half of the current fiscal, he said.